The nation’s largest airports are likely to be worth more than $1 billion each to infrastructure investors, according to a study by Reason Foundation, a nonprofit think tank.
The market value of 31 large and medium U.S. airports is more than $131 billion, the study said.
The organization used data from global airport sales and leases to determine which airports could be worth the most money via long-term leases.
The five most valuable airports are Los Angeles International Airport $17.8 billion, San Francisco International Airport $11.9 billion, Dallas-Ft. Worth International Airport $11.9 billion, Chicago O’Hare International Airport $10.3 billion, and Hartsfield–Jackson Atlanta International Airport, $9.2 billion.
State and local governments could pay down debt and fund infrastructure projects by leasing the airports to private companies, Reason Foundation said.
“American airports are extremely attractive to infrastructure investors and governments should be looking to maximize the value of these assets,” Robert Poole, Reason Foundation director of transportation policy and the study’s author, said.
Globally, most airports are privately managed.
Congress made it easier for U.S. airports to enter leases in 2018 but federal law requires airport bonds to be paid off as part of any lease agreement.
The report is entitled Should Governments Lease Their Airports?