STAMFORD, Conn., April 5, 2016 /PRNewswire/ -- PASSUR Aerospace, Inc. (OTC: PSSR), an aviation business intelligence, big data, and software solutions company, announced that Austin-Bergstrom International Airport, in Austin, Texas, has contracted for PASSUR's Landing Fee Management program. The program creates complete, accurate, and transparent reporting and billing of aviation usage fees to ensure all operators are paying only their fair share, all billable weight is being captured, and unit landing fees are kept at their lowest possible level.
36 airports manage $1+ billion in annual landing fees on the PASSUR platform, currently covering 32% of domestic mainline and regional carrier landings. The benefits of PASSUR's program include:
- Automating 20+% of airport revenue. Before the PASSUR program was used, the process was manual. PASSUR's process has increased revenue capture by an average of 1%, and in some cases as high as 4%, by identifying landings that were not self-reported, and by using airframe-specific weights based on PASSUR's patented "tail number" capture. The legacy self-reporting landing fee process was time consuming and manual. PASSUR automates the landing fee program, feeding data directly into the airport's financial billing system.
- Ensuring fair and accurate payment of hundreds of millions of dollars of fees per airline per year. Before PASSUR was used, there was not an effective method to ensure billing of all flights, often harming the largest airlines. Many airlines believe they are not being fairly and equitably charged for landing fees. PASSUR's independent surveillance system and unique data fusion process captures landings that may not have been self-reported, ensuring all carriers pay only their fair share based on actual usage.
- Saving airlines $12 million annually by reducing airport landing fee rates at airports which use PASSUR, by no longer subsidizing non-reported landings. With the increased landing capture, airports can maintain the same gross revenue, but allocate costs over a greater number of users, reducing the landing fee rate, which lowers carriers' Cost per Enplanement, thereby making the airport more attractive economically without reducing airport gross revenue. By no longer subsidizing non-reported landings, airlines are saving an estimated $12 million annually at the airports using PASSUR's program (which currently covers 32% of domestic mainline and regional carrier landings).
- Auditing landing fees by an independent party. PASSUR provides an accurate, independent, and archived review to assist airports by auditing what is typically their second largest revenue source.
- Accelerating airport cash collection by accelerating billing. Under the old system, airports often have a collection float of over one month related to the legacy landing fee process. PASSUR reduces the float by enabling airports to issue invoices quickly after month-end, without waiting for self-reports.
About PASSUR® Aerospace, Inc.
PASSUR® Aerospace is a leading business intelligence company, providing predictive analytics and decision support technology for the aviation industry, primarily to improve the operational performance and cash flow of airlines and the airports where they operate. PASSUR® Aerospace's information solutions are used by the largest five North American airlines, over 60 airport customers (including 22 of the top 30 North American airports), more than 200 corporate aviation customers, and the US government. PASSUR® Aerospace owns and operates the largest commercial passive radar network in the world that provides aircraft position updates every 1 to 4.6 seconds, powering a proprietary database that is accessible in real time and delivers timely and accurate information and solutions via PASSUR's industry-leading algorithms and business logic included in its products. Visit PASSUR® Aerospace's website at www.passur.com for updated products, solutions, and news.
SVP Marketing and Business Development
(203) 622-4086, Email
The forward-looking statements in this press release, including statements 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 risks and uncertainties related to customer needs, budgetary constraints, competitive pressures, the success of airline trials, the profitable use of PASSUR Aerospace's owned PASSURs located at major airports, PASSUR Aerospace's maintenance of above average quality of its product and services, as well as potential regulatory changes. Further information regarding factors that could affect PASSUR Aerospace's results are contained in PASSUR Aerospace's SEC filings, including the October 31, 2015 Form 10-K and January 31, 2016 Form 10-Q. PASSUR Aerospace undertakes no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available, or other events occur in the future.
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SOURCE PASSUR Aerospace