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Horizon Air, Port Altering Lease Agreement

PORTLAND-The change will result the airline leasing 32,000 sf in the PDX Cargo Center instead of its current 26,000 sf. The change also will result in Horizon's annual lease rate dropping to $8 per sf from the current average rate of $13 per sf.

By Brian K. Miller | Updated on February 14, 2003

PORTLAND-Horizon Air and the Port of Portland are adjusting two lease agreements that will net the airline 25% more space and a 40% drop in its rental rate.

Horizon currently leases approximately 26,000 sf in the PDX Cargo Center, in support of its passenger operations and Alaska Airline’s cargo operations. It leases 12,380 of space for storage and processing of in-flight commissary items and ground service equipment repair operations at a rate of $14.47 per sf per year. Additionally, is leases 13,550 sf for cargo operations in support of Alaska Airlines, which includes packaging and handling of freight at a rate of $11.68 per square foot per year.

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