, · FLL
Recent News
Updated Mar 28, 2026The $260 million project linking Terminals 1, 2, and 3 is now targeted for completion in late 2027. Once finished, all terminals will be connected post-security, enabling passengers to move freely throughout secured areas without exiting and re-entering security checkpoints, improving gate utilization and passenger flow.
FLL will serve as a main transportation hub for soccer fans attending FIFA World Cup 2026 events in the Miami/Fort Lauderdale area, with seven games hosted at Hard Rock Stadium located 15 miles south of the airport. Airport projects including Terminal 5 and terminal connections are being completed in line with the master plan to accommodate expected increased traffic.
Fort Lauderdale-Hollywood International Airport's new Terminal 5, a $404 million 230,000-square-foot facility with five domestic gates, is scheduled for completion in mid-2026. The terminal will feature check-in/ticketing areas, baggage processing, security screening, retail and food concessions, and will connect to Terminal 4 and Cypress parking garage via pedestrian bridges.
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
Two tests: (i) Historical test - Net Revenues plus any Transfer for most recent audited FY or any 12 consecutive months out of most recent 18 months must satisfy 125% rate covenant for next 5 full FYs (or next 2 full FYs with no capitalized interest, whichever later), including proposed Additional Bonds; OR (ii) Consultant certificate - Airport Consultant certifies projected Net Revenues plus Transfers will satisfy 125% rate covenant for next 5 full FYs (or next 2 full FYs with no capitalized interest, whichever later). For refunding bonds: Principal and Interest Requirements for proposed Additional Bonds in each FY through last FY when refunded bonds would be outstanding must not exceed 105% of Principal and Interest Requirements on refunded bonds. If 105% test cannot be met, must meet historical or consultant test above.
Rate Covenant
Net Revenues plus any Transfer for each Fiscal Year will be equal to at least 125% of Principal and Interest Requirements on all Outstanding Bonds for such Fiscal Year. Net Revenues = Revenues minus Current Expenses. Principal and Interest Requirements = debt service to be paid from irrevocably committed Available Revenues (PFC and Grant Revenues) is disregarded and not included.
Flow of Funds
All Revenues deposited into Revenue Account. Applied in priority: (a) Current Expenses plus Operation and Maintenance Requirement (1/6 of annual Current Expenses); (b) Interest Account; (c) Principal Account; (d) Sinking Fund Account; (e) Reserve Account; (f) Subordinated Debt Trustee/Paying Agent; (g) Subordinated Debt Service Reserve Account; (h) Renewal and Replacement Account; (i) Improvements Account; (j) General Purposes Account. Available PFC Revenues and Available Grant Revenues transferred from Available PFC Account and Available Grant Account to Interest and Principal Accounts to pay debt service on certain bonds.
Source Documents
Official Statements
Financial Statements
Budgets
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