06/07/2023 10:05 PM


For Immediate Release
June 7, 2023

LAX Public Relations 
(424) 646-5260



$1B Budget Invests In Continued Modernization, Workforce and Ensuring Ongoing Financial Stability


(Los Angeles, CA) On Thursday, June 1, the Board of Airport Commissioners (BOAC) unanimously approved a budget for Los Angeles World Airports (LAWA) in the amount of $1.076 billion for Fiscal Year 2023-24. This is the largest budget ever approved by BOAC. The expense budget is matched against projected revenues of approximately $2.005 billion for the same period, resulting in projected net revenues of $928 million before adjustment for capitalized labor. These net revenues are available to pay debt service, fund reserves and fund capital projects. LAWA’s budget expenditures support the daily operations, as well as provide capacity to fulfill federal mandates for the safety and security of airport operations. LAWA is a proprietary department of the City of Los Angeles, which means that it receives no taxpayer funds for its operations.

“We are proud to have approved a historic budget for Los Angeles World Airports, which invests in the continued modernization of our airports, building and retaining our workforce and realizing our long-term strategic goals for safety and security, guest experience and sustainability,” said Beatrice Hsu, President, BOAC. “Most importantly, the approved Fiscal Year 2023-2024 budget ensures the ongoing financial stability of our airports as we come out of the shadow of the COVID-19 pandemic and look towards the opening of major facilities and projects, including the Automated People Mover train and Consolidated Rent-A-Car facility.”

The proposed Fiscal Year 2023-24 Budget is based on a conservative forecast of operating revenues and operating expenses that reflect management's expectation of LAX passenger traffic of 41.5 million enplanements, approximately 9% higher than the budgeted Fiscal Year 2022-23 level of 38 million, and approximately 6% lower than the actual Fiscal Year 2018-2019 level. The proposed budget allows LAWA to achieve targeted key financial metrics and meet all LAX Bond Indenture covenants.

The largest portion of LAWA's operating expenses consists of payment of salaries, fringe benefits, and other payroll expenses for LAWA employees and City employees providing services to LAWA. Personnel costs represent $618.2 million or 57% of LAWA's total operating expense budget. Payments for salaries and benefits for those employees directly employed by LAWA during Fiscal Year 2023-24 are budgeted at $537.5 million, which is an 8% increase from the Fiscal Year 2022-23 Adopted Budget. The proposed budget assumes a headcount of approximately 3,662 positions, which include full-time and part-time positions. This is higher by 78 positions compared with the Fiscal Year 2022-23 Adopted Budget of 3,584 positions, and significantly higher than the 2,930 current employees on payroll, mainly due to the need for additional operations, maintenance, security and administrative staff to support increased passenger activity at the airport. This is equivalent to the number of employees LAWA had before the COVID-19 pandemic.

“At LAWA, we have the best employees in the world, and our Board approved budget invests in our people through the approval of positions equivalent to pre-pandemic numbers, including increases in budget positions for our security and police officers, maintenance staff and operations teams,” said Justin Erbacci, Chief Executive Officer, LAWA. “I’m grateful for our LAWA employees’ continued dedication to ensuring world class airports, and to our Board for its continued support and approval of this thoughtful budget.”

The adopted Fiscal Year 2023-24 Annual Budget for Los Angeles World Airports can be found here: MetaViewer.php (

About Los Angeles International Airport (LAX)
LAX, the fourth-busiest airport in the world and second busiest in the United States, was named a top-10 U.S. airport by SKYTRAX. LAX served more than 87.5 million passengers in 2018 and offers an average of 700 daily nonstop flights to 109 cities in the U.S. and 1,281 weekly nonstop flights to 93 markets in 47 countries on 69 commercial airlines. LAX ranks 10th in the world in air cargo tonnage processed, with more than 2.4 million tons of air cargo. LAX handled 707,883 operations (landings and takeoffs) in 2018.

LAX generated 620,600 jobs in Southern California, with labor income of $37.3 billion and economic output (business revenues) of more than $126.6 billion, according to an economic study based on 2014 operations. This activity added $6.2 billion to local and state revenues and $8.7 billion in federal tax revenues. The study also reported that LAX’s ongoing capital improvement program creates an additional 121,640 annual jobs with labor income of $7.6 billion and economic output of $20.3 billion; $966 million in state and local taxes; and $1.6 billion in federal tax revenues.

LAX was honored as having the “Best Overall Customer Service Program” by Airports Council International-North America; named the “Best Airport for Breastfeeding Moms” by Mamava; selected for the Top 10 “Best of the U.S.’s Big Airports” (Wall Street Journal) and “Most Pet-Friendly Airports in the U.S. (Mental Floss); named the second-most improved airport in the U.S. by JD Power; received an “Innovation Award” from the L.A. Better Business Challenge for its Central Utility Plant; and named a “Business Leader in Air Quality” by the South Coast Air Quality Management District.

LAX is also the second-most popular airport in the world to appear on Instagram, according to LAX is part of a system of two Southern California airports – along with Van Nuys general aviation – that are owned and operated by Los Angeles World Airports, a proprietary department of the City of Los Angeles that receives no funding from the City’s general fund.

For more information about LAX, please visit or follow on Twitter   @flyLAXAirport, on Facebook at, and on YouTube at

As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and, upon request, will provide reasonable accommodation to ensure equal access to its programs, services, and activities. Alternative formats in large print, braille, audio, and other forms (if possible) will be provided upon request.

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