SFO concession deal continues for 10 years

March 16, 2010 6:40:47 PM PDT
A deal that gives the City of San Francisco 15 percent of the concession revenue at San Francisco International Airport has been extended for another 10 years.

Mayor Gavin Newsom says the deal with the airlines could bring in as much as $330 million over the next decade. All that money goes directly into the city's general fund. The mayor says the payment program has been a major revenue source for the city since it began in 1981.

"$449 million has come into the city's general fund to provide for recreational park programs, to provide for health programs, to provide services for homeless, seniors and the disabled. That's a big deal," says Mayor Gavin Newsom.

Last year, SFO was the number No. 1 airport in the country for food and beverage sales and No. 3 in retail.