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I would venture to say that a good chunk of the smaller airports/airlines are subsidized by the adjacent city/county. I know that the one in my hometown is. They have 4 outgoing flights a day, probably 30 passengers per flight at $100. That comes out to about $12,000 a day, figure in land, employees, security, upkeep, maintenance, fuel, insurance, etc. Probably not much profit, if any.
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