DENVER, Colo. - A new agreement between United Airlines and Denver International Airport will keep the airline in Denver through at least 2035. The Denver City Council's Business Development Committee voted unanimously to move the agreement forward for approval by Mayor Michael Hancock and the Denver City Council.
United Airlines expects to save approximately $35 million annually, while the agreement also benefits all the airlines at DIA through amortization changes and debt restructuring.
United Airlines was the only airline to sign a long-term lease when DIA opened in February, 1995. That lease was set to expire in 2025, when the original airport bonds will be paid off.
“We thank United Airlines again for its commitment to the Denver metro region," said Mayor Hancock. "Having United affirm and extend its commitment to the Denver market is a significant action, in a time of volatility within the aviation industry, that will stoke the state’s largest economic engine."
“This is a great example of a city and an airline working together to ensure that the airport stays cost competitive,” said Jim Compton, United’s vice chairman and chief revenue officer. “United Airlines and DIA’s strong relationship spans decades, and we thank Mayor Hancock and the City of Denver for their continued partnership.”
DIA CEO Kim Day said, "DIA has diligently worked to leverage our resources and lower costs for all of our airline partners; this will strengthen our competitive position and encourage airlines to grow in Denver. This is the latest initiative in a series that is focused on long-term stability and growth of our airport and United Airlines, a great partner, has demonstrated its support of Denver and our community by executing this lease extension.”