Cherry Capital Airport

What Cherry Capital Airport does

Cherry Capital Airport (TVC) is a publicly-operated regional commercial airport in Traverse City, Michigan, owned and managed by the Northwest Regional Airport Authority (NRAA), a joint governmental entity established by Grand Traverse County and Leelanau County. The airport serves as the primary commercial air travel gateway for Northern Michigan, connecting the region to 19 nonstop destinations across the United States through seven airlines (Allegiant, American, Delta, JetBlue, Sun Country, and United). In 2025, TVC served a record 935,816 passengers—a 19% year-over-year increase—more than triple the 250,000-300,000 annual capacity the current five-gate terminal was designed to accommodate when it opened in 2004. The airport's broader economic impact on the regional community is reported at over $1 billion annually per a 2016 MDOT study.

The airport's product portfolio centers on commercial airline service and is supported by a full general aviation ecosystem: three fixed-base operators (AVFLIGHT, 45 North Aviation, Giving Wings Aviation) provide fueling, charter, maintenance, and avionics; Northwestern Michigan College Aviation has operated a flight training program on-site since 1967; aircraft charter access covers more than 5,000 U.S. airports. Supporting amenities include TSA PreCheck enrollment, short-term/long-term/economy parking with EV charging, five rental car brands, and various ground transportation options. The technology stack is infrastructure-focused: TSA Credential Authentication Technology (CAT) at the security checkpoint, EarthCam live construction monitoring for the terminal expansion, a real-time flight tracker, and a Progressive Web App for traveler access. The airport does not process international passengers.

TVC's revenue model is diversified across transaction-based and licensing streams with no local tax support. Passenger Facility Charges ($4.50 per ticket), landing fees, parking (short-term $18.50/day max, long-term $15/day max, economy $11/day, plus EV charging), rental car and terminal concessions (including the Cherry Country Cafe), advertising, and land/facility rent to airlines, FBOs, and ground transportation providers are the principal revenue lines. Major capital projects are funded through FAA grants and approximately $60 million in bond sales. The $120 million 'TVC: Gates to the Future' terminal addition—broke ground April 24, 2026—will add 4-5 gates, an expanded security checkpoint, new concessions, and passenger amenities (mother's room, sensory room, boarding bridges) to relieve capacity constraints projected to persist through 2030.

Name

Cherry Capital Airport

Legal name

Northwest Regional Airport Authority

Website

https://tvcairport.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

11–50 employees

Short description

Cherry Capital Airport (TVC) is a publicly-operated regional commercial airport in Traverse City, Michigan, serving Northern Michigan with 19 nonstop destinations across 7 airlines. It served a record 935,816 passengers in 2025 and is undergoing a $120 million terminal expansion adding 4-5 gates by 2030.

Ownership category

akta.pro rank

Product category

Regional Commercial Airport Services

NAICS

Airport Operations (48811), Other Airport Operations (488119)

SIC

Airports, Flying Fields & Airport Terminal Services (4581)

akta.pro primary industry

Passenger Terminal Facilities Management (Cleaning, Maintenance, Utilities) (TLAHAEAK)

akta.pro secondary industry

Airport Retail (Duty-Free & Specialty) (THABALAC)

Keywords

• Commercial airport services
• Passenger air travel
• General aviation services
• Airport parking facilities
• Ground transportation services

Headquarters

HQ city

Traverse City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Passenger Facility Charges (PFCs): $4.50 fee charged to travelers when purchasing airline tickets, used to maintain and improve airport facilities.
2. Parking Fees: Revenue from short-term, long-term, economy lot, and EV charging parking. Short-term $18.50/day max, long-term $15/day max, economy lot $11/day.
3. Rental Car Concessions: Revenue from five rental car companies (Avis, Budget, Enterprise, Hertz, National) operating at the terminal site.
4. Landing Fees: Fees charged to airlines for landing at the airport, contributing to operational revenue.
5. Land and Facility Rent: Revenue from leasing airport property and facilities to tenants including airlines, FBOs, and ground transportation providers.
6. Concession Fees: Revenue from terminal concessions including the Cherry Country Cafe restaurant and gift shop.
7. Advertising Fees: Revenue from advertising displays throughout the terminal facility.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Cherry Capital Airport operates as a regional commercial airport providing passenger air travel access to Northern Michigan. Its core offering is commercial airline service on six carriers—Allegiant, American, Delta, JetBlue, Sun Country, and United—offering 19 nonstop destinations across the United States. Supporting services include general aviation facilities, airport parking, rental car concessions, ground transportation, TSA PreCheck enrollment, and ID badging. The airport is currently executing a $120 million terminal expansion (TVC: Gates to the Future) to address capacity constraints.

Product overview

Cherry Capital Airport operates as a regional commercial service airport offering a unified portfolio of passenger air travel services. The core offering centers on commercial airline service from six carriers (Allegiant, American, Delta, JetBlue, Sun Country, and United) providing 19 nonstop destinations across the United States. Supporting services include general aviation operations through multiple FBOs (AVFLIGHT, 45 North Aviation), flight training programs (Northwestern Michigan College Aviation, Giving Wings Aviation), aircraft charter services, and ground transportation including rental cars and various shuttle/taxi options. The airport provides standard airport amenities including short-term, long-term, and economy parking with EV charging, TSA PreCheck enrollment, and ID badging services. A major terminal expansion (TVC: Gates to the Future) is underway to address capacity constraints, adding new gates and passenger amenities. The airport also produces Third Coast, a travel lifestyle video series showcasing Northern Michigan tourism.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Airline Service Airport serves six commercial airlines offering 19 nonstop flights to destinations across the United States including Chicago, Detroit, Minneapolis, Denver, Dallas, Houston, Atlanta, Charlotte, Washington DC, Newark, Philadelphia, New York, Boston, Phoenix, Punta Gorda, St. Pete-Clearwater, Fort Lauderdale, and Orlando.
• General Aviation Services Full-service general aviation facilities including FBO services, flight training, aircraft rental, maintenance, and avionics services through multiple operators at the airport.
• Aircraft Charter Services Charter flight services available through 45 North Aviation, offering access to over 5,000 airports nationwide with 24-hour dispatch, in-flight catering, and ground transportation coordination.
• Airport Parking Short-term, long-term, and economy parking options with EV charging stations available in short-term parking. Cashless payment accepted. Cell phone waiting area provided.
• Ground Transportation Rental car services from five companies (Avis, Budget, Enterprise, Hertz, National) and various ground transportation options including shuttles, taxis, and limousines.
• Airport ID Badging Services Issuance of airport identification badges including SIDA (Security Identification Display Area) and AOA (Air Operations Area) badges with associated security training and background check services.
• TSA PreCheck Enrollment Permanent recurring TSA PreCheck enrollment site providing enrollment services for travelers to apply for expedited security screening programs.
• TVC Mobile Web App (PWA) Progressive Web App allowing travelers to add TVC to their home screen for quick access to flight information, arrivals, and departures.
• TVC: Gates to the Future Terminal Addition Major terminal expansion project adding approximately 68,000 square feet of new terminal space with 4-5 additional gates, expanded security checkpoint, new concessions, restrooms, mother's room, sensory room, passenger boarding bridges, and additional passenger amenities.

Quantifiable outcome

• 935,816 passengers served in 2025, a 19% increase year-over-year
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

14 partnerships are on record, tiered core and minor.

• AviscoreChannel Partner/ Reseller/ DistributorRental car company located at Cherry Capital Airport terminal site, providing vehicle rental services to airport travelers. Contact: (231) 946-1223 / (800) 331-1212
• BudgetcoreChannel Partner/ Reseller/ DistributorRental car company at airport terminal providing budget-friendly vehicle rentals. Contact: (231) 947-3883 / (800) 527-0700
• EnterprisecoreChannel Partner/ Reseller/ DistributorRental car company at airport terminal serving travelers. Contact: (231) 922-2800 / (844) 966-0645
• HertzcoreChannel Partner/ Reseller/ DistributorRental car company at airport terminal providing vehicle rentals. Contact: (231) 946-7051 / (800) 654-3131
• National Car RentalcoreChannel Partner/ Reseller/ DistributorRental car company at airport terminal. Contact: (844) 996-0645
• 45 North AviationcoreChannel Partner/ Reseller/ DistributorFBO and flight school located at 1190 Airport Access Rd. Provides aircraft charter, sales, maintenance, and avionics services. ARGUS Gold Rated Charter Operator. Factory-authorized dealer for Garmin, Aspen, BendixKing, Meggitt, Avidyne and Artex.
• Giving Wings AviationcoreChannel Partner/ Reseller/ DistributorFAA Flight Training Center at 1170 Airport Access Rd. Provides aircraft rental, maintenance, flight training, and ICON Flight Training Partner services including seaplane and multi-engine ratings.
• AVFLIGHTcoreChannel Partner/ Reseller/ DistributorFBO at 1150 Airport Access Rd providing fuel (Avfuel Contract), concierge services, pilot lounge, passenger lounge, catering, and ground services. Contact: 844.FUEL.TVC
• Northwestern Michigan College AviationcoreStrategic or Co-development PartnerAviation training program at 2600 Aero Park Drive offering flight instruction, ratings, and degree programs. Has been training pilots since 1967 with diverse aircraft fleet including seaplanes.
• Federal Aviation Administration (FAA)coreOthersPrimary federal regulator providing airport certification, funding grants, and oversight. FAA Reauthorization Act directed elimination of AFFF foam requirement.
• Transportation Security Administration (TSA)coreOthersFederal agency operating security checkpoints at the airport. Installed CAT units for credential authentication and offers AskTSA texting service.
• Michigan Department of Transportation (MDOT)coreOthersState agency providing airport funding grants. Awarded $249,981 PFAS grant for testing and monitoring. Named TVC as MDOT Air Carrier Airport of the Year 2025.
• Michigan Department of Environment, Great Lakes, and Energy (EGLE)coreOthersState environmental agency leading PFAS investigation and remediation efforts. Designated airport as MPART PFAS Site. Issued PFAS grants totaling significant funding for testing.
• Pure MichiganminorGTM or Marketing PartnerOfficial state tourism partner promoting Northern Michigan travel via the airport website and marketing materials.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Regional players

• Kalamazoo/Battle Creek International Airport: Regional Michigan airport serving southwestern Michigan with similar mid-size regional service characteristics, governance structure, and reliance on a mix of leisure and business travelers.
• MBS International Airport: Mid-Michigan regional airport serving Midland, Bay City, and Saginaw with comparable size and service profile to TVC — a natural in-state benchmarking peer.

Direct peers

• Bangor International Airport: Regional commercial airport serving a comparable northern U.S. catchment with similar passenger volume, mixed airline network, and reliance on tourism plus local passenger traffic.
• Nantucket Memorial Airport: Resort-destination regional airport with comparable leisure seasonality, constrained capacity, and a premium leisure-travel demand profile similar to TVC.
• Hilton Head Island Airport: Leisure-driven regional airport serving a beach/resort destination, comparable to TVC's Northern Michigan leisure tourism role with similar seasonality and capacity sensitivities.
• Bozeman Yellowstone International Airport: Regional commercial airport serving a similar resort/leisure destination in Montana with strong passenger growth, multiple airline partners, and seasonal service patterns — closely comparable to TVC's Northern Michigan catchment and growth trajectory.
• Aspen/Pitkin County Airport: Resort-destination regional airport with a similar leisure-driven demand profile, high-cost operations, capacity constraints, and reliance on seasonal traffic — directly analogous to TVC's tourism-leverage model.
• Burlington International Airport: Regional commercial airport serving a similar-sized catchment in Vermont with comparable passenger volume (~1M range), a multi-airline route map, and a mix of leisure and business travelers.

Broad incumbents

• Detroit Metropolitan Wayne County Airport: Michigan's largest hub airport and primary commercial alternative for Northern Michigan travelers, particularly for international and long-haul service — defines the upper bound of the state's airport market.
• Gerald R. Ford International Airport: Larger Michigan regional airport serving Grand Rapids with a broader airline network and business-travel demand; competes indirectly with TVC for portions of the western Michigan catchment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Cherry-Capital-Airport-TVC-100064857214308
• Instagraminstagram.com/tvc_airport
• LinkedInlinkedin.com/company/cherry-capital-airport

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cherry Capital Airport