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Fri April 30, 2004
Public Money Going to Fund More Flights
Cheyenne, Wy – State money will be used in efforts to add new flights from airports in Jackson and Cody. The Wyoming Business Council Board of Directors voted unanimously to fund the projects today. 300-thousand dollars will help secure Cody to Denver summer service and 125-thousand is for flights next winter from Dallas and Cincinnati to Jackson. In February, the Board chose not to spend any of the state's three million air service fund, and actually seem opposed to playing with the free market. Business Council CEO Tucker Fagan says the difference now is changes made to the program by the legislature.
The state money will be for a revenue guarantee, which is an agreement to pay the airline if revenue targets aren't met. Business Council Board Member Dick McGinity understands they could end up spending all 425-thousand dollars. But he thinks the economic benefits are worth it, especially if the service is sustainable without subsidies.