LAWA Looking to Spend $4 billion on Improvements
Los Angeles World Airports is seeking to spend slightly more than $4 billion on capital improvement projects during a five-year period ending in 2018, according to a report prepared for the Board of Airport Commissioners.
Almost all of the money will be earmarked for Los Angeles International Airport, by far the largest facility in the system, documents show. Projects at L.A./Ontario International Airport will receive $49.4 million, while projects at Van Nuys Airport will receive $37 million, the report shows.
At LAX, plans include finishing the new Tom Bradley International Terminal, building part of a new midfield concourse, constructing a taxiway and adding runway safety improvements. Los Angeles World Airports also will pay for parts of renovation projects at several terminals, including those used by Southwest Airlines, Delta Air Lines and United Airlines.
In all, the largest chunk of the LAX money (about $2.5 billion) will be spent on terminal improvements. Some of the upgrades detailed in the report are already underway.
In Ontario and Van Nuys, officials plan runway and taxiway improvements, the report shows.
At LAX, plans calls for spending a little more than $1 billion in fiscal year 2014, with outlays decreasing in further years, reaching $532 million in 2018.
Ontario's capital costs rise from around $6.9 million in 2014 to $13.8 million in 2018. Van Nuys starts at $16 million in 2014 and falls to $6.5 million in 2018.
Revenue comes from federal grants, passenger facility charges levied on tickets, airport bonds and airport revenue, the report shows. City general fund money does not go toward airport projects.