April 2019

PGD Punta Gorda AirportAn Overview of the Punta Gorda and Charlotte County Market

Page 2

Punta Gorda Airport Has Virtually No Cost per Enplanement;Airlines Pay No Landing Fees, Rent or Common Use Fees

Florida Airports Airline Cost per EnplanementFiscal Year Ending September 30, 2017 (Source: FAA Compliance Activity Tracking System (CATS) Database)

*Terminal area apron charges and fuel hookup divided by enplanements

$0.0

0

$0.2

7 $1.8

5

$1.9

8

$4.3

3

$4.7

0

$4.8

6

$5.0

1

$5.3

1

$6.2

0

$6.2

4 $7.3

3

$7.3

4

$7.8

7

$8.1

4 $9.3

8

$9.8

1 $10.

95

$10.

97 $12.

64

$19.

83

$0

$5

$10

$15

$20

$25

Cos

t per

Enp

lane

men

t

Page 3

Punta Gorda Airport Is Located on the West Coast of Florida, Approximately45 Minutes North of Ft. Myers and 60 Minutes South of Sarasota

Distances to Other AirportsRSW = 38 MilesSRQ = 61 MilesPIE = 102 MilesTPA = 110 Miles

Page 4

Over the Last Nine Years, the Population of Charlotte CountyHas Increased 21.3% to More than 182,000 Residents

Punta Gorda MSA Population2008-2017 U.S. Census Bureau Data

150,060154,998

159,935 159,671162,937 165,018

168,595173,194

178,465182,033

3.3%

6.6% 6.4%8.6%

10.0%12.4%

15.4%

18.9%21.3%

0%

10%

20%

30%

40%

50%

100,000

125,000

150,000

175,000

200,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Cum

ulat

ive

Popu

latio

n G

row

th

MSA

Pop

ulat

ion

Charlotte County Population Charlotte County Population Cummulative Growth

Page 5

The Total Population of the Five Counties Stretching from Bradenton to NaplesWas 2,098,827 in 2017 – about the Same Size as the Raleigh/Durham MSA

2017 Population2017 U.S. Census Bureau Data

182,033

372,880

385,571

419,119

739,224

0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000

CharlotteCounty

CollierCounty

ManateeCounty

SarasotaCounty

Lee County

2017 Population

Page 6

Combined, New York and New Jersey Account for 26.4% of Charlotte County Outof State Property Owners among States with at Least 1,000 Property Owners

Distribution of Primary State of Residence for Out-of-State Residential Property Owners in Charlotte CountySource: Charlotte County Tax Collector’s Office (Includes only States with at Least 1,000 Property Owners)

NY18.4%

MI10.1%

MA9.2%

OH8.4%

NJ8.0%

PA7.9%

IL5.8%

IN5.0%

CT4.2%

MD3.3%

GA3.2%

VA3.0%

NH2.9%

NC2.5%

CA2.5%

TX2.0%

RI1.8%

MN1.8%

Rank StateNumber of Properties % of Total

Cumulative Total

1 NY 11,296 18.4% 11,2962 MI 6,216 10.1% 17,5123 MA 5,630 9.2% 23,1424 OH 5,170 8.4% 28,3125 NJ 4,946 8.0% 33,2586 PA 4,863 7.9% 38,1217 IL 3,553 5.8% 41,6748 IN 3,095 5.0% 44,7699 CT 2,604 4.2% 47,373

10 MD 2,044 3.3% 49,41711 GA 1,988 3.2% 51,40512 VA 1,848 3.0% 53,25313 NH 1,784 2.9% 55,03714 NC 1,539 2.5% 56,57615 CA 1,528 2.5% 58,10416 TX 1,203 2.0% 59,30717 RI 1,107 1.8% 60,41418 MN 1,079 1.8% 61,493

18 Largest States 61,493 100.0% 61,493

Page 7

Canada Accounts for 45.8% of All ForeignResidential Property Owners in Charlotte County

Distribution of Primary Country of Residence for Non-U.S. Residential Property Owners in Charlotte CountySource: Charlotte County Tax Collector’s Office

Canada45.8%

France13.8%

United Kingdom11.6%

Germany6.7%

China1.3%

Brazil0.3%

Other20.5%

Rank CountryNumber of Properties % of Total

Cumulative Total

1 Canada 5,011 45.8% 5,0112 France 1,509 13.8% 6,5203 United Kingdom 1,266 11.6% 7,7864 Germany 737 6.7% 8,5235 China 145 1.3% 8,6686 Brazil 28 0.3% 8,6967 Other 2,240 20.5% 10,936

Total 10,936 100.0% 10,936

April 2019

Traffic Retention and Leakage

9Page 9

Punta Gorda’s Catchment Area Includes 41 Zip Codesin Charlotte, Sarasota and Lee Counties

10Page 10

Southwest Florida International Airport in Ft. Myers Captures56.6% of the Traffic Generated in Punta Gorda’s Catchment Area

56.6%

0.2%

3.7%

5.1%

9.6%

3.2%

1.2%

4.6%15.5%

0.2%

11Page 11

6,069 Passengers per Day Each Way Leak from Punta Gorda’sCatchment Area to Other Airports in the Region

Domestic and International Passengers per Day Each Way (PDEW) at Punta Gorda and Surrounding AirportsYear-End Third Quarter 2018

3,647

951648

36227 104 209 83.7 9 10

157

88

305 85 1470

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

RSW TPA PGD MIA MCO FLL SRQ PIE PBI SFB

Pass

enge

rs p

er D

ay E

ach

Way

(PD

EW)

Domestic PDEW International PDEW

Domestic PDEW International PDEW Total PDEWRSW 3,646.7 61.6% 156.9 19.8% 3,803.6 56.6%TPA 950.7 16.1% 88.3 11.1% 1,039.0 15.5%PGD 648.1 10.9% 0.0 0.0% 648.1 9.6%MIA 35.6 0.6% 304.8 38.4% 340.4 5.1%MCO 226.8 3.8% 84.6 10.7% 311.4 4.6%FLL 103.6 1.7% 147.1 18.5% 250.7 3.7%SRQ 209.2 3.5% 9.1 1.1% 218.3 3.2%PIE 83.7 1.4% 0.0 0.0% 83.7 1.2%PBI 8.6 0.1% 2.9 0.4% 11.5 0.2%SFB 10.4 0.2% 0.4 0.1% 10.8 0.2%All Airports 5,923.3 100.0% 794.1 100.0% 6,717.5 100.0%

12Page 12

New York/Newark, Chicago, Washington/Baltimore, Bostonand Hartford Are Punta Gorda’s Five Largest True Markets

0.00.00.00.00.00.010.712.220.221.2

0.023.5

0.00.00.0

34.618.1

0.00.0

46.40.00.0

13.80.00.0

434.2358.9

319.2213.2

195.3181.0160.3

151.0142.0

135.2155.3

129.5148.5145.0

133.691.9

106.190.690.1

37.180.479.6

65.975.374.6

100.0%100.0%

100.0%100.0%

100.0%100.0%

93.8%92.5%87.5%

86.5%100.0%84.6%

100.0%100.0%

100.0%72.7%

85.4%100.0%100.0%

44.4%100.0%100.0%82.7%

100.0%100.0%

0 50 100 150 200 250 300 350 400 450 500

New York/Newark - 1Chicago - 2

Washington/Baltimore - 3Boston - 4

Hartford - 5Minneapolis/St. Paul - 6

Milwaukee - 7Providence - 8

St. Louis/Belleville - 9Columbus - 10

Philadelphia - 11Pittsburgh - 12

Islip - 13Denver - 14Detroit - 15

Indianapolis - 16Cleveland - 17

Buffalo - 18Los Angeles Basin - 19

Cincinnati - 20Las Vegas - 21

Atlanta - 22Kansas City - 23

Dallas/Ft. Worth - 24Albany - 25

Passengers per Day Each Way (PDEW)

Retained at PGDLeaked from PGD% Leaked

Passengers per Day Each Way (PDEW) in the 25 Largest True Markets at Punta Gorda Year-End Third Quarter 2018

13Page 13

Ft. Myers Captures 3,804 PDEW from Punta Gorda’s Catchment Area;the Average Fare Paid at Ft. Myers Is $172

Passengers per Day Each Way (PDEW) and Average Fare by Airport in the 30 Largest True Markets at Punta Gorda Year-End Third Quarter 2018

Rank Market PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare1 New York/Newark 302.0 $164 57.5 $151 5.1 $153 21.3 $133 11.7 $145 36.5 $173 434.2 $1612 Chicago 285.8 $149 54.3 $134 1.3 $150 9.7 $131 3.0 $129 4.8 $233 358.9 $1473 Washington/Baltimore 221.9 $150 65.7 $140 1.2 $155 13.4 $110 6.2 $130 10.8 $210 319.2 $1484 Boston 162.7 $166 33.0 $150 0.5 $184 3.2 $149 1.7 $152 12.1 $188 213.2 $1645 Hartford 149.4 $141 38.7 $123 0.3 $156 2.0 $127 1.3 $126 3.7 $185 195.3 $1386 Minneapolis/St. Paul 160.2 $170 14.1 $168 0.7 $172 3.0 $156 0.1 $167 3.0 $195 181.0 $1707 Milwaukee 146.5 $131 7.6 $124 10.7 $121 2.0 $115 4.2 $164 171.0 $1318 Providence 114.8 $118 24.8 $114 12.2 $106 3.6 $114 2.0 $136 5.8 $158 163.2 $1189 St. Louis/Belleville 119.8 $121 14.1 $126 20.2 $116 0.1 $182 2.0 $109 0.5 $167 5.4 $146 162.2 $122

10 Columbus 110.2 $119 13.1 $115 21.2 $112 5.2 $101 0.1 $123 6.5 $137 156.3 $11811 Philadelphia 109.2 $172 32.5 $139 0.1 $158 7.7 $120 1.9 $128 3.8 $183 155.3 $16312 Pittsburgh 98.3 $113 13.5 $110 23.5 $102 0.3 $152 3.2 $103 2.1 $108 12.1 $135 153.0 $11313 Islip 108.1 $71 40.4 $87 148.5 $7614 Denver 81.6 $188 49.2 $168 1.3 $187 8.0 $166 2.2 $161 2.7 $214 145.0 $18015 Detroit 106.3 $167 18.8 $153 0.1 $129 4.0 $140 1.4 $146 2.9 $208 133.6 $16516 Indianapolis 79.8 $127 5.0 $115 34.6 $120 2.4 $115 0.6 $156 4.1 $132 126.5 $12417 Cleveland 85.2 $101 11.8 $93 18.1 $84 0.1 $146 3.6 $102 1.0 $118 4.4 $133 124.2 $9918 Buffalo 54.2 $143 22.7 $128 10.2 $121 1.0 $131 2.5 $165 90.6 $13719 Los Angeles Basin 38.8 $270 18.9 $253 2.1 $246 21.6 $185 5.8 $225 2.9 $312 90.1 $24420 Cincinnati 32.3 $120 2.3 $136 46.4 $84 2.5 $107 83.5 $10021 Las Vegas 40.1 $248 29.8 $151 1.9 $212 3.4 $170 3.4 $163 1.7 $285 80.4 $20522 Atlanta 60.8 $150 8.6 $131 0.5 $119 2.2 $113 1.5 $117 6.1 $187 79.6 $14923 Kansas City 50.4 $138 11.7 $139 13.8 $118 3.7 $165 79.6 $13624 Dallas/Ft. Worth 31.8 $239 30.7 $162 1.5 $203 5.5 $153 3.4 $182 2.4 $231 75.3 $19825 Albany 44.9 $180 16.7 $158 7.1 $137 2.0 $138 3.8 $208 74.6 $17126 Nashville 37.4 $147 14.4 $134 5.3 $119 0.1 $161 5.5 $122 1.3 $119 2.0 $187 66.0 $14127 Grand Rapids 33.6 $149 2.9 $148 22.2 $123 1.4 $125 0.2 $190 5.5 $135 65.7 $13928 Houston 16.8 $229 33.8 $127 2.4 $155 7.5 $142 3.7 $153 1.4 $207 65.6 $15929 Phoenix/Mesa 30.1 $255 26.9 $206 0.7 $243 2.3 $177 1.0 $231 2.3 $226 63.2 $22930 San Francisco Bay Area 30.7 $280 15.6 $259 1.5 $228 3.7 $227 3.1 $230 4.0 $261 58.7 $266

30 Largest Markets 2,943.9 $151 729.0 $145 228.0 $106 22.0 $181 164.7 $140 62.5 $156 163.3 $179 4,313.3 $149All Other Markets 859.7 $244 310.0 $262 420.1 $94 318.4 $404 146.7 $286 188.3 $194 161.0 $189 2,404.2 $236Total Markets 3,803.6 $172 1,039.0 $180 648.1 $98 340.4 $389 311.4 $209 250.7 $185 324.3 $184 6,717.5 $180

Total PDEWRSW TPA PGD MIA MCO FLL Others

14Page 14

Among the Carriers with the Largest Shares of Punta Gorda’s Catchment Area Traffic, American and Delta Generate the Highest Average Fare

Passengers per Day Each Way (PDEW) and Average Fare by Airline in the 30 Largest True Markets at Punta Gorda Year-End Third Quarter 2018

Rank Market PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare PDEW Fare1 New York/Newark 7.8 $146 18.2 $170 99.5 $173 120.7 $168 0.2 $146 187.8 $150 434.2 $1612 Chicago 117.4 $130 83.9 $165 12.3 $200 72.2 $163 14.9 $128 58.3 $130 358.9 $1473 Washington/Baltimore 143.1 $137 81.2 $160 17.2 $187 18.1 $153 0.5 $105 59.1 $144 319.2 $1484 Boston 5.1 $148 19.8 $163 33.7 $159 11.2 $135 143.4 $168 213.2 $1645 Hartford 81.1 $123 28.0 $153 18.6 $175 4.1 $131 63.5 $141 195.3 $1386 Minneapolis/St. Paul 6.8 $161 15.1 $160 52.9 $196 4.6 $165 8.1 $160 93.6 $160 181.0 $1707 Milwaukee 92.9 $120 7.8 $172 19.5 $183 11.8 $120 3.9 $155 35.1 $121 0.0 $0 171.0 $1318 Providence 72.2 $107 16.5 $169 6.2 $198 14.6 $106 5.8 $150 46.5 $106 1.4 $137 163.2 $1189 St. Louis/Belleville 108.2 $116 5.6 $174 9.1 $183 23.6 $116 1.9 $148 13.7 $115 0.0 $0 162.2 $122

10 Columbus 96.5 $111 8.4 $164 10.1 $168 24.7 $111 0.4 $162 7.5 $110 8.8 $110 156.3 $11811 Philadelphia 13.2 $127 92.0 $175 6.4 $202 0.8 $117 39.9 $142 2.9 $145 155.3 $16312 Pittsburgh 77.1 $102 12.2 $178 8.6 $171 30.3 $104 2.0 $126 0.2 $97 22.6 $103 153.0 $11313 Islip 49.0 $78 1.8 $142 97.7 $73 148.5 $7614 Denver 41.8 $155 18.5 $195 12.2 $252 33.3 $202 37.6 $159 1.7 $156 145.0 $18015 Detroit 3.7 $134 11.8 $159 61.3 $193 2.6 $171 5.4 $135 48.8 $135 133.6 $16516 Indianapolis 68.3 $119 6.1 $159 8.0 $176 37.7 $119 0.2 $159 6.1 $118 0.0 $0 126.5 $12417 Cleveland 9.3 $83 11.1 $156 8.1 $182 19.9 $83 5.5 $149 53.0 $83 17.3 $83 124.2 $9918 Buffalo 47.7 $129 6.7 $149 11.7 $173 4.9 $136 16.2 $131 3.3 $147 90.6 $13719 Los Angeles Basin 9.7 $235 23.2 $251 22.2 $272 22.8 $226 2.7 $215 9.5 $223 90.1 $24420 Cincinnati 0.5 $86 2.2 $169 14.5 $160 48.5 $85 0.2 $161 17.7 $85 83.5 $10021 Las Vegas 23.0 $167 16.7 $243 10.4 $294 9.9 $238 11.9 $156 8.4 $154 80.4 $20522 Atlanta 11.1 $136 0.9 $139 65.3 $153 0.2 $101 2.0 $105 79.6 $14923 Kansas City 39.1 $121 5.7 $181 10.7 $202 15.5 $119 1.6 $149 7.0 $119 0.1 $129 79.6 $13624 Dallas/Ft. Worth 13.6 $157 40.1 $218 9.7 $235 4.3 $146 0.0 $230 7.6 $146 75.3 $19825 Albany 48.3 $163 13.6 $193 5.3 $221 4.0 $163 3.4 $138 74.6 $17126 Nashville 29.0 $124 6.7 $183 12.1 $191 5.7 $120 0.3 $147 11.7 $119 0.5 $106 66.0 $14127 Grand Rapids 15.1 $122 5.0 $177 9.1 $201 26.1 $122 3.2 $152 7.2 $122 0.0 $0 65.7 $13928 Houston 16.3 $126 7.1 $192 3.1 $234 28.5 $177 0.0 $125 10.5 $117 65.6 $15929 Phoenix/Mesa 16.8 $208 28.9 $238 3.8 $293 1.2 $192 8.4 $229 3.2 $225 0.9 $172 63.2 $22930 San Francisco Bay Area 8.5 $251 16.9 $252 12.2 $299 18.0 $268 1.3 $247 1.8 $238 58.7 $266

30 Largest Markets 1,272.3 $126 611.7 $182 573.7 $190 259.6 $107 393.5 $177 445.3 $112 757.2 $148 4,313.3 $149All Other Markets 186.7 $156 523.3 $242 313.2 $271 489.2 $95 236.8 $267 50.1 $574 604.9 $312 2,404.2 $236Total Markets 1,459.0 $130 1,134.9 $210 886.9 $219 748.8 $99 630.3 $211 495.4 $159 1,362.1 $221 6,717.5 $180

Others Total PDEWSouthwest American Delta Allegiant United Frontier

April 2019

Capacity, Traffic and Fare Trends in the Region

Page 16

Punta Gorda Has Virtually No Cost per Enplanement;Airlines Pay No Landing Fees, Rent or Common Use Fees

Florida Airports Airline Cost per EnplanementFiscal Year Ending September 30, 2017 (Source: FAA Compliance Activity Tracking System (CATS) Database)

*Terminal area apron charges and fuel hookup divided by enplanements

$0.0

0

$0.2

7 $1.8

5

$1.9

8

$4.3

3

$4.7

0

$4.8

6

$5.0

1

$5.3

1

$6.2

0

$6.2

4 $7.3

3

$7.3

4

$7.8

7

$8.1

4 $9.3

8

$9.8

1 $10.

95

$10.

97 $12.

64

$19.

83

$0

$5

$10

$15

$20

$25

Cos

t per

Enp

lane

men

t

Page 17

Punta Gorda Currently Has Service on Allegiant to 40 Destinations

Published Punta Gorda Capacity by Carrier and Market – March 2019 Versus March 2018OAG Schedule Data as of April 14, 2019

Page 18

Allegiant’s Capacity Increased 14.2% in March 2019 Versus March 2018; Cincinnati, Indianapolis, Niagara Falls, Albany and Grand Rapids Had the Most Capacity

Airline DestinationDepartures per Day

Each WaySeats per Departure

Seats per Day Each Way

Departures per Day Each Way

Seats per Departure

Seats per Day Each Way

Seat Change

Seat % Change

Allegiant CVG 1 2/7 177 223 1 2/7 177 217 -6 -2.6%IND 1 1/7 167 194 1 2/7 177 217 23 11.8%IAG 1 177 177 1 1/7 177 200 23 12.9%ALB 1 177 177GRR 1 177 166 1 177 166 0 0.0%PSM 4/7 177 103 6/7 177 154 51 50.0%PIA 5/7 177 126 6/7 177 148 23 18.2%

RFD 5/7 177 131 6/7 177 148 17 13.0%FWA 5/7 177 137 5/7 177 126 -11 -8.3%SBN 5/7 177 126 5/7 177 126 0 0.0%TOL 4/7 177 103 5/7 177 126 23 22.2%CID 4/7 177 108 5/7 177 120 11 10.5%FNT 3/7 177 74 5/7 177 120 46 61.5%ABE 3/7 177 74 5/7 177 114 40 53.8%LEX 4/7 177 103 5/7 168 114 11 10.7%LCK 5/7 177 120 4/7 177 108 -11 -9.5%TYS 4/7 177 103 4/7 177 108 6 5.6%DSM 4/7 177 108 4/7 177 103 -6 -5.3%MDT 3/7 177 74 4/7 177 103 29 38.5%SPI 4/7 177 97 4/7 177 103 6 5.9%PIT 5/7 156 111 4/7 168 87 -24 -21.8%SDF 3/7 177 74 3/7 177 86 11 15.4%AVL 3/7 177 74 3/7 177 74 0 0.0%BLV 3/7 177 74 3/7 177 74 0 0.0%USA 3/7 177 69 3/7 177 74 6 8.3%PBG 3/7 177 69 3/7 177 69 0 0.0%MLI 2/7 177 51 2/7 177 63 11 22.2%CLE 3/7 177 74 2/7 177 57 -17 -23.1%ATW 2/7 177 51BNA 2/7 177 51DAY 3/7 177 74 2/7 177 51 -23 -30.8%MKE 2/7 177 51 2/7 177 51 0 0.0%OMA 2/7 177 51 2/7 177 51 0 0.0%PVD 2/7 177 51 2/7 177 51 0 0.0%RDU 3/7 177 69 2/7 177 51 -17 -25.0%ROC 2/7 177 51 2/7 177 51 0 0.0%STC 2/7 177 51 2/7 177 51 0 0.0%SWF 2/7 177 51 2/7 177 51 0 0.0%SYR 2/7 177 51MCI 2/7 177 51 2/7 177 46 -6 -11.1%TTN 2/7 177 51

G4 Total All Markets 19 6/7 176 3,496 22 4/7 177 3,992 495 14.2%

March 2018 March 2019

Punta Gorda Generated 1,552,659 Origin and Destination Passengersin the YE 3Q 2018, an Increase of 26.0% Versus YE 3Q 2017

Punta Gorda Domestic* O&D PassengersYear-End Third Quarter

Page 19

* Punta Gorda generates no international traffic

32,764 54,779 113,061 122,135274,166

578,973

773,375

1,040,473

1,231,997

1,552,659

0

250,000

500,000

750,000

1,000,000

1,250,000

1,500,000

1,750,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Annu

al O

&D

Pas

seng

ers

Domestic Annual Origin & Destination (O&D) Passengers

Punta Gorda’s Year-End Third Quarter 2018 O&D DataTranslates to 2,127 Domestic Passengers per Day Each Way

Punta Gorda Domestic* Passengers per Day Each Way (PDEW)Year-End Third Quarter

Page 20

45 75 155 167376

793

1,059

1,421

1,688

2,127

0

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Pass

enge

rs p

er D

ay E

ach

Way

(PD

EW)

Domestic Passengers per Day Each Way (PDEW)

* Punta Gorda generates no international traffic

The Average Fare Declined since Its Peak of $88 in YE 3Q 2014as Allegiant Has Continued to Add Capacity in Punta Gorda

Page 21

85167 189

432

888

1,226

1,608

2,038

2,468

45

75155 167

376

793

1,059

1,421

1,688

2,127

$40$43

$62

$72

$86$88

$84

$72 $72

$68

$0

$20

$40

$60

$80

$100

0

500

1,000

1,500

2,000

2,500

3,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Aver

age

One

-Way

Far

e

Seat

s an

d Pa

ssen

gers

per

Day

Eac

h W

ay

Seats per Day Each Way Domestic PDEW Average Domestic Fare

Punta Gorda Seats per Day Each Way, Passengers per Day Each Way (PDEW) and Average One-Way Fare Year-End Third Quarter

Ft. Myers Domestic Capacity Increased 4.0% and Domestic Traffic Increased 6.0%in the YE 3Q 2018 as the Average Domestic Fare Declined 1.5% to $153

Page 22

12,443 12,38813,142

12,01412,655

13,04113,534

14,04314,493

15,08016,005

9,402 9,252 9,613

9,044 9,424 9,750

10,28910,705 10,947

11,599

$128 $133$139

$162 $160 $167

$164$155 $155 $153

$0

$50

$100

$150

$200

$250

$300

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Aver

age

One

-Way

Far

e

Seat

s an

d Pa

ssen

gers

per

Day

Eac

h W

ay

Seats per Day Each Way Domestic PDEW Average Domestic Fare

Ft. Myers Seats per Day Each Way, Passengers per Day Each Way (PDEW) and Average One-Way Fare Domestic Year-End Third Quarter Data

The Average Domestic Sarasota Fare Increased to Tie Its All-Time High of $202In the YE 3Q 2018 as Capacity Increased 6.1% and Traffic Increased 9.8%

Page 23

2,183 2,184 2,282 2,253

1,980 1,951 1,999 1,973 1,8922,007

2,820

1,728 1,683 1,676 1,6761,461 1,475 1,503 1,476 1,460

1,603

$131 $136$147

$164$173

$185 $188 $190$202 $202

$0

$50

$100

$150

$200

$250

0

1,000

2,000

3,000

4,000

5,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Aver

age

One

-Way

Far

e

Seat

s an

d Pa

ssen

gers

per

Day

Eac

h W

ay

Seats per Day Each Way Domestic PDEW Average Domestic Fare

Sarasota Seats per Day Each Way, Passengers per Day Each Way (PDEW) and Average One-Way Fare Domestic Year-End Third Quarter Data

Capacity will increase 40.5% in the YE 3Q 2019 vs. YE 3Q 2018

Page 24

* Punta Gorda generates no international traffic

Even in Third Quarter, Punta Gorda’s Year-over-YearTraffic Increased 29.9% to 1,812 PDEW in 2018

Punta Gorda Domestic* Passengers per Day Each Way (PDEW)Quarterly Data – Third Quarter 2016 through Third Quarter 2018

1,3721,591

1,9801,792

1,395

1,922

2,5322,252

1,812

0

500

1,000

1,500

2,000

2,500

3,000

2016-Q3 2016-Q4 2017-Q1 2017-Q2 2017-Q3 2017-Q4 2018-Q1 2018-Q2 2018-Q3

Pass

enge

rs p

er D

ay E

ach

Way

(PD

EW)

Domestic Passengers per Day Each Way (PDEW)

The Third Quarter 2018 Traffic Growth of 29.9% Outpaced the Capacity Growth of 18.3% to 2,100 Seats per Day Each Way; the Average Fare Declined 12.9%

Punta Gorda Seats per Day Each Way, Passengers per Day Each Way (PDEW) and Average One-Way Fare Quarterly Data – Third Quarter 2016 through Third Quarter 2018 (Capacity Data Extended through First Quarter 2019)

Page 25

1,537

1,939

2,3072,139

1,775

2,299

2,907

2,576

2,100

2,495

3,121

2,736

1,827

1,372

1,591

1,9801,792

1,395

1,922

2,532

2,252

1,812

$57

$73$82

$72

$59

$73$82

$61$52

$0

$25

$50

$75

$100

$125

$150

$175

$200

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Aver

age

One

-Way

Far

e

Seat

s an

d Pa

ssen

gers

per

Day

Eac

h W

ay

Seats per Day Each Way Domestic PDEW Average Domestic Fare

The Average Domestic Ft. Myers Fare Increased Slightly in 3Q 2018,Even as Capacity Increased 5.7% and Traffic Increased 8.4% to 7,233 PDEW

Page 26

8,352

13,854

20,924

14,467

8,869

14,520

22,280

14,292

9,378

15,313

23,944

15,375

9,552

6,382

10,407

15,810

11,004

6,675

11,072

17,437

10,772

7,233

$155$161

$151$159

$149$154

$144

$167

$151

$0

$25

$50

$75

$100

$125

$150

$175

0

5,000

10,000

15,000

20,000

25,000

30,000

Aver

age

One

-Way

Far

e

Seat

s an

d Pa

ssen

gers

per

Day

Eac

h W

ay

Seats per Day Each Way Domestic PDEW Average Domestic Fare

Ft. Myers Seats per Day Each Way, Passengers per Day Each Way (PDEW) and Average One-Way Fare Domestic Quarterly Data – Third Quarter 2016 through Third Quarter 2018 (Capacity Data Extended through Third Quarter 2019)

Sarasota’s Average Domestic Fare Declined 6.7% in 3Q 2018 vs. 3Q 2017and Will Continue to Be under Pressure as Capacity Increases at High Rates

Page 27

1,378

1,805

2,461

1,918

1,398

1,747

2,2942,139

1,855

2,401

3,211 3,134

2,544

1,077

1,416

1,837

1,511

1,085

1,417

1,785 1,735

1,479

$189$202 $198

$208$200

$212 $207 $204

$187

$0

$25

$50

$75

$100

$125

$150

$175

$200

$225

0

1,000

2,000

3,000

4,000

Aver

age

One

-Way

Far

e

Seat

s an

d Pa

ssen

gers

per

Day

Eac

h W

ay

Seats per Day Each Way Domestic PDEW Average Domestic Fare

Sarasota Seats per Day Each Way, Passengers per Day Each Way (PDEW) and Average One-Way Fare Domestic Quarterly Data – Third Quarter 2016 through Third Quarter 2018 (Capacity Data Extended through Third Quarter 2019)

On a Quarterly Basis, Cincinnati, Indianapolis, Niagara Falls, Grand Rapids andFort Wayne Were Punta Gorda’s Five Largest Markets in First Quarter 2018

30 Largest Markets at Punta Gorda Airport First Quarter 2018

Page 28

111,17082,850

60,15059,552

56,26853,12453,07853,019

51,22650,86750,70350,69649,631

48,43147,928

43,32940,34739,42039,01138,535

36,78035,806

32,97432,87932,31532,12531,70531,697

29,18426,399

152.3113.5

82.481.6

77.172.872.772.6

70.269.769.569.4

68.066.365.7

59.455.3

54.053.452.8

50.449.0

45.245.0

44.344.043.443.4

40.036.2

0 20,000 40,000 60,000 80,000 100,000 120,000

CVG - 1IND - 2IAG - 3LEX - 4PIT - 5

GRR - 6RFD - 7FWA - 8SBN - 9

TYS - 10PIA - 11

CMH/LCK - 12AVL - 13

STL/BLV - 14ABE - 15CLE - 16DSM - 17TOL - 18SDF - 19FNT - 20SPI - 21

DAY - 22MCI - 23

MDT - 24CID - 25

USA - 26RDU - 27PSM - 28PVD - 29SWF - 30

Quarterly O&DPDEW

The Average One-Way Fare in Punta Gorda's 30 LargestMarkets Was $83 in First Quarter 2018

Page 29

$67$83

$105$96$97

$92$67

$104$96$95

$48$74

$61$100$101

$79$123

$87$106

$66$49

$77$84

$65$76

$49$49

$53$82

$115

$0 $20 $40 $60 $80 $100 $120 $140

CVG - 1IND - 2IAG - 3

GRR - 4FWA - 5

PIA - 6LEX - 7RFD - 8SBN - 9

DSM - 10TYS - 11

CMH/LCK - 12PIT - 13CID - 14TOL - 15SPI - 16

PSM - 17ABE - 18FNT - 19DAY - 20AVL - 21

STL/BLV - 22MDT - 23CLE - 24SDF - 25RDU - 26

CLT/JQF - 27MCI - 28MLI - 29

STC - 30

30 Largest Domestic Markets Generated an Average Fare of $83

Average One-Way Fare in the 30 Largest Markets at Punta Gorda Airport First Quarter 2018

April 2019

Contact

Ronald Mallard CM. ACEChief Operating Officer

Director of AviationCharlotte County Airport Authority (PGD)

28000 A-1 Airport Rd.Punta Gorda, FL 33982

Tele: 941.639.1101 Ext. 116FAX: 941.639.4792

Website: http://www.flypgd.comE-mail: rmallard@flypgd.com

For Additional Information