Port of Oakland grows operating income, revenues in FY 2017

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.