Willard Airport’s fundraising towards a $1 million expansion plan is nearing completion.
Last February, Willard Airport began raising money to put towards the expansion, with the goal to raise $1 million in order to offer more airlines to gain passengers. The airport is still trying to raise money for the expansion, having brought in $850,000 so far and is trying to raise the additional $150,000.
Raising the money from community donations is a priority, the airport’s Executive Director Tim Bannon said in an interview.
The money is to be used as financial incentives for attracting leisure airlines flying to various destinations such as Florida, Las Vegas and Arizona. Adding more destinations will mean more airlines to fly out of Willard as well.
Currently, Willard offers 250 connections through the Chicago and Dallas airports. Bringing in leisure flights will allow for direct destinations.
“We want to add more destinations where people want to go,” Bannon said.
The airport also has other projects in the works, including renovations aiming to improve accessibility and expanding the security checkpoint.
According to the Federal Aviation Administration, last year, Willard had 70,184 passengers, the second-highest number since 2019. This is an 8% increase from 2022. The passenger data for this year will be released in January 2025.
Willard Airport has a 14% retention rate for passengers, meaning passengers who fly more than once, but 65% of passengers in the area who decide not to fly out of Willard end up going to either Chicago or Indianapolis. Bannon said the main goal of the expansion is to get those passengers back.
Two airports in the U.S. are owned and operated by a university. One is Swisher Skyhaven Airport, owned by the University of Central Missouri, and the other is Willard Airport, owned by the University of Illinois at Urbana Champaign.
Willard Airport is in Champaign County, nine-minutes from the university’s campus. Established in 1945, Willard Airport has served the community by offering affordable, commercial flights. As it is owned by the university, it is limited in the ways it can create revenue.
There are two main sources of revenue Willard generates on a yearly basis. Those include rental and lease revenue, and parking revenue. On average, per year since 2021, Willard has generated about $600,000 from rental and lease revenue and about $480,000 from parking revenue.
What the revenues do not show is that Willard has been at a loss for net operating income each year since 2021, its five-year budget statement shows. With reimbursement under programs such as the Aviation Fuel Tax Program, the airport was able to report a positive change in position each fiscal year except 2024. The airport’s current fiscal year will end on June 30, 2025.
Rental and lease revenue comes from hangar rentals for either private plane owners or commercial airlines, and rental car usage. Willard gets a base rent from the rental company and a 10% commission on gross revenue, according to Bannon.
Parking revenue comes from people having to leave their cars in Willard’s parking lot while they travel. Prices for parking can vary from $3 for a couple hours to $325 for an annual pass. Bloomington and Decatur airports, other options for potential Willard passengers, do not charge for parking.
Though it may seem like the airport generates a large volume of people parking, Bannon said only 28% of passengers park.
That is why Bannon said he stresses the importance of community fundraising.
“It’s an investment in the future for the community,” he said.
Along with this expansion, Willard Airport has other projects starting soon.
A Transportation Security Administration (TSA) project starting early next year will add a line to the security checkpoints in the airport, which will widen these checkpoints to add accessibility and ease of travel for passengers.
Willard is also working on a $3 million dollar accessibility project that includes the replacement of escalators and elevators throughout the airport. The project aims to make the airport even more accessible for everyone.
“We are always trying to improve,” Bannon said. “We want this airport to be a place people can be proud of in the community.”