America's airports are saddled with debt and need billions of dollars to modernize.
The infrastructure needs of airports totaled at least $115 billion from 2023 to 2027, according to industry group Airports Council International.
Investments are needed to digitize and streamline the onboarding of passengers and maintain, modernize and expand infrasturcture such as terminals, public transit, gates, runways and hangars.
Money is largely needed to prepare for growth in cargo and travel: Passenger traffic is expected to more than double in 2040 from 2019 levels, according to the Federal Aviation Administration.
The hubs are key parts of the economy, producing an economic output of $1.7 trillion a year, and renovating U.S. airports would also mean a less stressful experience for travelers.
But airports are still reeling from the aftermath of the coronavirus pandemic after losing more than $40 billion in revenue, which led them to take on more debt.
Recent government spending hasn't done enough: The federal government earmarked $15 billion of funding for U.S. airports through the passage of 2021's Infrastructure Investment and Jobs Act.
Airports that need the most money by state
Some states are in much more dire need than others, according to a ConsumerAffairs review of Airports Council International's 2023 study.
The population of a state and its number of airports strongly influences its cash needs.
By 2027, the five states needing the most infrastructure money are California ($26.4 billion), Texas ($14.3 billion), Florida ($12 billion), New York ($6.7 billion) and North Carolina ($6.6 billion).
The five states with the lowest needs are Delaware ($47.5 million), West Virginia ($129.4 million), Vermont ($167.4 million), New Hampshire ($257 million) and Wyoming ($358.4 million).
The average money needed per airport, found by dividing a state's infrastructure needs by its number of airports, tells a somewhat different story.
By 2027, the five states with the highest average infrastructure need per airport are New Jersey ($208.3 million), California ($140.43 million), Massachusetts ($138.5 million), Maryland ($122.2 million) and Florida ($120 million).
The five states with the lowest average infrastructure need per airport are Kansas ($4.9 million), West Virginia ($5.63 million), Mississippi ($7.7 million), Oklahoma ($8.5 million) and Arkansas ($8.9 million).
Debt is also a big problem: Airports had more than $133 billion in debt in 2023.
The five states with the most debt from their airports are New York ($29.4 billion), California ($26.3 billion), Florida ($12 billion), Texas ($11.5 billion) and Illinois ($11.5 billion).
How can airports get enough money?
Current revenue that airports bring in and federal aid isn't making the cut.
Regulations also make it difficult for airports to tap into the cash they need, Airports Council International said.
For instance, airports in other parts of the world can set charges to recover their expenses, but in the U.S. their hands are more tied.
Revenue from the federal government's Passenger Facility Charge program, which charges fees up to $4.50 per passenger at commercial airports, has been capped for more than 20 years with no adjustments for inflation.
The government's Airport Improvement Funding program, which awards more than $3 billion in grants a year, has also been stagnant for nearly two decades, Airports Council International said, and in most cases the funding can't go towards terminals, which are the biggest infrastructure expense airports have.
Airports Council International said Congress needs to cut red tape and make reforms, such as boosting the Airport Improvement Funding program and growing its eligibility.
