DFW already taking Hit from Love Xpansion

[biafra4life]

I've always thought that it was unfair that the City of Dallas had to essentially sacrifice Love Field for the DFW airport. DFW doesn't benefit the city of Dallas in my opinion...now the folks living in Southlake, Flower Mound, Irving, Arlington and Grapevine? wonderful for them! Jack squat for Dallas. Takes forever to get there if you live in Dallas, no property tax revenue coming to Dallas, no sales tax just nada. At least Love Field would positively impact the city for once. Just think if Love Field was the size of DFW...I know the fact that it's a solid 40 minute drive from DFW to downtown Dallas negatively impacts having conventions in the city.

I know all about the Wright Amendment so there is nothing that could have been done. Just venting.

[ritholtz]

Originally Posted by biafra4life

I've always thought that it was unfair that the City of Dallas had to essentially sacrifice Love Field for the DFW airport. DFW doesn't benefit the city of Dallas in my opinion...now the folks living in Southlake, Flower Mound, Irving, Arlington and Grapevine? wonderful for them! Jack squat for Dallas. Takes forever to get there if you live in Dallas, no property tax revenue coming to Dallas, no sales tax just nada. At least Love Field would positively impact the city for once. Just think if Love Field was the size of DFW...I know the fact that it's a solid 40 minute drive from DFW to downtown Dallas negatively impacts having conventions in the city.

I know all about the Wright Amendment so there is nothing that could have been done. Just venting.

I am really not that familiar with this stuff. But city of Dallas (along with Fort worth) owns DFW airport. It is their property. It is in their best interest to take care of their property. Not sure who owns Love airport.
I happened to read little from DFW airport financial report submitted for Dallas/Fort worth city council. I do not have that with me now. But according to this report Irving, Grapevine and Bedford are designated as airport cities (not the owner cities). They have a agreement with owner cities (Dallas and Fort worth) to share their sales tax. These numbers were very huge.

[pharpe]

Originally Posted by ritholtz

I am really not that familiar with this stuff. But city of Dallas (along with Fort worth) owns DFW airport. It is their property. It is in their best interest to take care of their property. Not sure who owns Love airport.

The City of Dallas is a not for profit government entity. Finding ways to increase the value of their assets is not its mission. Its only interest should be executing the will of the people it represents. If the citizens of Dallas want Love Field unrestrained than that is what Dallas government should be working toward regardless of if it hurts DFW.

[M.abus]

We should have ten millon living in the area in a decade or two, so there's room for both. Love Field is great for me, all surface streets, only about 15 minutes.

[ritholtz]

Originally Posted by pharpe

The City of Dallas is a not for profit government entity. Finding ways to increase the value of their assets is not its mission. Its only interest should be executing the will of the people it represents. If the citizens of Dallas want Love Field unrestrained than that is what Dallas government should be working toward regardless of if it hurts DFW.

I understand, making profit it not their mission. But it is also their airport. It is not true about Dallas not getting any benefit out of dfw airport.

[JimBaker488]

NEW YORK ( TheStreet) -- In the latest sign that airline industry shares have hit a rough patch, Bank of America/Merrill Lynch on Wednesday downgraded American Airlines to neutral from buy.
"American is the most exposed to capacity concerns that have arisen of late given that it goes head to head with Southwest in Dallas," wrote Merrill Lynch analyst Andrew Didora in a report.
Additionally, Didora said, "The company faces its biggest integration risk with the reservation system cutover this fall," following the 2013 merger with US Airways. He cut his price objective to $50 from $64

American Airlines Is Downgraded Thanks to Southwest's Growth in Dallas | Business News
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I remember some folks chuckling when it was suggested the liberation of Dallas Love from the Wright Amendment would put some real pressure on DFW and therefor the larger airports biggest tenant, FTWorth-based American Airlines.