Dallas Love Field
Medium HubDallas, TX · DAL
Recent News
Updated Mar 28, 2026Dallas Love Field and DFW International Airport have so far avoided long security lines amid the partial government shutdown affecting TSA staffing at some airports nationwide. Love Field expects about 530,000 Southwest travelers from March 9-23, 2026, down from around 580,000 during the same period in 2025. Airport officials recommend arriving two hours before flights due to road construction along Mockingbird Lane.
Multiple infrastructure projects around Dallas Love Field Airport are on target for completion in spring 2026, just in time for the FIFA World Cup 2026. A total of 28 underground storage tanks have been removed with eight additional tanks to be removed in 2026, bringing the total to 54 tanks when complete.
Dallas Love Field announced a $2.5 billion expansion program, the largest in the airport's history, with a new airline use and lease agreement with Southwest Airlines approved in May 2025. The agreement includes $800 million in pre-approved terminal funding, of which up to $600 million could be used for 12 additional gates, growing Love Field from 20 to 32 gates, though current federal law restricts gate expansion.
Airport Profile
Key Financial Data (FY 2024)
Enplaned Passengers (FAA CATS)
Cost per Enplanement (CPE)
Revenue
Expense
Ratemaking Overview
Settlement & True-Up
Not available
Extraordinary Coverage Protection (ECP)
Not available
Landing Fee Methodology
Not available
Terminal Rental Rate
Not available
Common Use & Gate Allocation
Additional Bonds Test
Either (i) Airport Consultant projects Net Revenues for 3 consecutive Fiscal Years ≥ 1.25x Average Annual Debt Service on all Outstanding Parity Bonds plus Additional Parity Bonds, or (ii) certificate from Aviation Director and CFO showing Net Revenues for most recent complete Fiscal Year or any consecutive 12 of most recent 18 months ≥ 1.10x Maximum Annual Debt Service. Exemptions: (A) first $250M for Parking Garage and initial issuance, (B) refunding bonds that reduce maximum debt service. Other conditions: Additional Parity Bonds must mature on Principal Installment Payment Dates; Reserve Fund must equal Reserve Requirement after issuance; Corporation must not be in material default.
Rate Covenant
Net Revenues for each Fiscal Year at least equal to 1.25 times the Average Annual Debt Service on all outstanding Parity Bonds and Additional Parity Bonds scheduled to occur during each respective Fiscal Year
Flow of Funds
From Pledged Revenue Fund: (A) First, to Debt Service Fund for principal and interest on General Airport Revenue Bonds; (B) Second, to Reserve Fund to maintain Reserve Requirement; (C) Third, to Trustee and Paying Agent/Registrar fees and expenses; (D) Fourth, to Subordinate Lien Obligations; (E) Fifth, to Project Fund for Love Field improvements as agreed by City and Corporation.
Source Documents
Official Statements
Financial Statements
Source: FAA CATS Form 5100-127, DOT T-100 Market Data, Airport Official Statements · Hub classification: FAA CY 2024 Enplanement Data · Prepared by DWU Consulting