The Port of Oakland posted record operating revenues for the fiscal year, which ended June 30, thanks to higher operating revenues in all three of its business lines – aviation, maritime and commercial real estate.
The Port of Oakland recorded an operating income of $63.7 million for fiscal year 2017, which ended June 30, a 20.6 percent jump from the prior fiscal year, thanks to revenue growth outpacing a 3.4 percent increase in expenses, the Northern California port said Friday.
In addition, the Port of Oakland posted record operating revenues of $358.7 million for the fiscal year, rising 6 percent from the previous record of $338 million set during the prior fiscal year. The port attributed the growth to higher operating revenues in all three of its business lines – aviation, maritime and commercial real estate.
The aviation division had operating revenues of $190.6 million for the fiscal year, up 10.2 percent year-over-year thanks to an 8.4 percent rise in passenger traffic at Oakland International Airport.
Meanwhile, the maritime division saw operating revenues inch up 1.8 percent from fiscal year 2016 to $151.4 million.
In addition, the commercial real estate division’s operating revenues rose 2.9 percent from fiscal year 2016 to $16.7 million, driven by a strong local property market.
Port of Oakland grows operating income, revenues in FY 2017
