Finance: Oakland
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Oakland: Port Operating Revenue at All-Time High in FY 2015
Port of Oakland operating revenue in FY 2015 reached a record high of $336.6 million, an increase of 4.2 percent from FY 2014.
"The result is encouraging, given the challenges we faced," said Executive Director Chris Lytle. "The job now is to build on our strengths and grow our business."
Revenue increases were experienced by all three of the port’s major business lines:
- Aviation: up 3.1 percent due largely to an 8.7 percent boost in passenger traffic at Oakland International Airport;
- Commercial Real Estate: up nearly 20 percent;
- Maritime: up 3.9 percent despite a 6.5 percent decline in loaded container volume that followed a labor dispute last winter on the West Coast waterfront.
The port also reported operating expense increased by 6.8 percent during FY 2015, resulting in an 8.5 percent drop in operating income.
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