STAMFORD, Conn., Feb. 14, 2012 /PRNewswire/ -- PASSUR® Aerospace, Inc. (OTC: PSSR.PK) announced today that Cleveland Hopkins International Airport and Cleveland Burke Lakefront Airport have contracted for the PASSUR® Landing Fee Management solution to ensure that the airports capture all their landing fees, forecast and plan revenue accurately, and simplify the process through automation.
"We have a responsibility to ensure that our landing fee program is managed as efficiently, cost-effectively and transparently as possible," said Ricky Smith, Director for the Cleveland Airport System, which manages both Cleveland Hopkins and Burke Lakefront airports. "The PASSUR Landing Fee Management program gives us the ability to manage this aspect of our business in a way that meets our airline tenants' objectives, as well as our own key financial and management goals."
"Access to data and automation of processes are both key components of any airport's future as a well-run business," said Jim Barry, PASSUR President and CEO. "As more and more airports turn to PASSUR for landing fee management, there is increasing momentum to adopt this tool as a common, standard platform for the industry."
The subscription to the PASSUR Landing Fee Management program marks an expansion of services PASSUR provides to the Cleveland Airport System, which already subscribes to PASSUR airport operations solutions designed to deliver the most cost-effective operations for carriers and other airport users through optimized airfield management.
The PASSUR Landing Fee Management Program
Airports today are expected to capture all revenues from all flights; assure their airline partners that fees are levied fairly, transparently, and efficiently; and explore new avenues of activity-based revenue. The legacy system of airline self-reporting has become a complex, time-consuming, and inefficient process. The PASSUR landing fee management Program and Airport Management Business Intelligence Reports put airports in control of these critical revenue streams by giving them and their airline partners the independent, standardized, and accurate information tools they need to ensure complete revenue capture, quicker revenue recognition and payment, and effective forecasting and analysis. The program also includes the option for a rich aviation operation statistics data feed into Airport Operational Database (AODB) systems.
The PASSUR Landing Fee Management System also enables airlines to standardize and automate the landing fee process across all airports to ensure accuracy, transparency, and cost efficiencies. Working in concert with airlines at dozens of airports, this system has helped ensure that airlines are not subsidizing airfield operations beyond actual use, resulting in millions of dollars in annual savings.
About PASSUR Aerospace
PASSUR Aerospace, Inc. is a business intelligence company that provides predictive analytics built on proprietary algorithms and the concurrent integration and simultaneous mining of multiple databases. We believe we provide the industry standard in business intelligence dashboards and predictive analytics for aviation organizations. PASSUR serves dozens of airlines (including six of the top eight North American airlines, and all five of the top hub carriers), approximately 60 airport customers (including 23 of the top 30 North American airports), and approximately 200 corporate aviation customers, as well as the U.S. government, including the Federal Aviation Administration (FAA) and the Transportation Security Administration (TSA). PASSUR's system is driven by proprietary, patented, business intelligence software, which is powered by a unique North American network of 155 passive radars, company owned, and covers 98 of the top 100 North American airports. Other PASSURs are located in Europe and Asia. Flight tracks are updated between 1 and 4.6 seconds, thereby providing a system, which is user-friendly and useful for decision-making.
Visit PASSUR Aerospace's website at www.passur.com for updated products, solutions, and PASSUR news.
The forward-looking statements in this press release relating to management's expectations and beliefs are based on preliminary information and management assumptions. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those related to customer needs, budgetary constraints, competitive pressures, the success of airline trials, the profitable use of the Company's owned PASSURs located at major airports, the Company's maintenance of above average quality of its product and services, as well as potential regulatory changes. Further information regarding factors that could affect the Company's results is contained in the Company's SEC filings, including the October 31, 2011 Form 10-K.
SOURCE PASSUR Aerospace, Inc.