The purpose of this Intermodal feasibility study for Lakeland Linder Regional Airport (LAL) was to assess potential means to improve the Airport’s financial performance, economic development, and overall operation. To accomplish this, the plan studied potential revenue enhancement initiatives, along with policy and managerial strategies. The recommended plan of action from this report rested on seven primary strategic initiatives:
1) Attract Airline Service: This component of demand has the highest potential to generate revenues of the various scenarios considered. The study found that with airline service, return on assets (ROA) could be boosted by 1.8 percent, which is 180 percent of its existing ROA.
2) Secure U.S. Customs and Border Protection: CBP Services would permit international flights to clear Customs at the Airport. Fuel sales from these flights are significant and would increase overall revenues to the Airport. In addition, it would broaden the Airport brand and permit renaming of the Airport to include “International” in the title. The changing brand could ultimately lead to scheduled international flights – passenger and/or air cargo.
3) Attract More MRO Activity: Attracting more MROs to the Airport would facilitate the formation of a cluster industry at the Airport that can gain national/international recognition.
4) Increase GA and Military Activity: The current primary business of Lakeland Linder Regional Airport is general aviation, with some military activity from Draken International. Therefore strategies to increase this segment of the business carry weight in increasing overall Airport revenues.
5) Increase Intermodal Use of the Airport: In addition to airline passenger service, the potential attraction of international air cargo is important to LAL. The development of international air cargo, with U.S. Customs clearance services at LAL could pave the way for international air passenger service from constituent countries.
6) Non-Aviation Property Development: Revenues from non-aviation property leases could potentially yield more than $950,000 per year if all non-aeronautical property (87.2 acres) were converted to leasable space at the Airport.
7) Airport Rebranding: To truly expand its horizons, it was recommended that the Airport change its name and include “International” in the title.