George Bush Intercontinental Airport
Large HubHouston, TX · IAH
Recent News
Updated Mar 29, 2026George Bush Intercontinental Airport has become the symbol for how the ongoing partial government shutdown has wreaked havoc on air travel. Frustrated travelers confronted warnings of four-hour wait times to get through security as nearly 40% of TSA workers called out on March 25, compared to 11% nationally. Only between a third and 50% of the airport's 37 TSA checkpoint lanes are currently operating.
A small number of TSA National Deployment Officers were sent to Bush Airport on March 25 to help support screening operations amid the partial government shutdown. The additional officers are being used to open one or two extra screening lanes, though wait times are still expected to reach four hours or more during peak travel periods.
Houston Airports temporarily closed Runway 9/27, a 10,000-foot runway at George Bush Intercontinental Airport, for a 90-day resurfacing and lighting improvement project. The project includes grinding, retexturing, and regrooving the runway surface, plus installing 380 new LED runway lights to improve visibility and support sustainability goals.
United Airlines temporarily closed the IAH Terminal B Ticketing Lobby beginning January 21, 2025, and it will remain closed until late 2026. During this time, United Airlines Gates B3-B31 will remain operational for passengers.
Airport Profile
Key Financial Data (FY 2025)
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
The Master Ordinance permits issuance of Additional Subordinate Lien Bonds, Additional Senior Lien Obligations and Inferior Lien Bonds for any lawful Houston Airport System purpose if certain conditions are satisfied. Specific test conditions are referenced in APPENDIX C-1 but detailed requirements not provided in excerpts.
Rate Covenant
The City covenants to fix, charge and collect rates sufficient to yield Net Revenues at least equal to the larger of: (1) all amounts required to be deposited to Senior Lien Bond Interest and Sinking Fund, Senior Lien Bond Reserve Fund, Subordinate Lien Bond Interest and Sinking Fund, Subordinate Lien Bond Reserve Fund, Inferior Lien Bond Interest and Sinking Fund, and Inferior Lien Bond Reserve Fund; or (2) 125% of Debt Service Requirements for Outstanding Senior Lien Obligations plus 110% of Debt Service Requirements for Outstanding Subordinate Lien Bonds plus 100% of Debt Service Requirements for Outstanding Inferior Lien Bonds. Debt Service Requirements calculation excludes any portion of interest or principal irrevocably committed to be paid from Houston Airport System funds other than Net Revenues (including PFC Revenues) and excludes capitalized interest.
Flow of Funds
Revenue Fund receives all Gross Revenues. Priority waterfall: (1) Operation and Maintenance Expenses, yielding Net Revenues; (2) Senior Lien Bond Interest and Sinking Fund (debt service on Senior Lien Obligations); (3) Senior Lien Bond Reserve Fund (reestablish reserve requirement); (4) Subordinate Lien Bond Interest and Sinking Fund (debt service on Subordinate Lien Bonds); (5) Subordinate Lien Bond Reserve Fund (reestablish reserve requirement); (6) Inferior Lien Bond Interest and Sinking Fund; (7) Inferior Lien Bond Reserve Fund; (8) Operation and Maintenance Reserve Fund (maintain two months' current O&M expenses); (9) Renewal and Replacement Fund (replenish to $10M requirement); (10) Airports Improvement Fund (may be used for any lawful Houston Airport System purpose). PFC Revenues are separate and not included in Net Revenues but may be irrevocably committed to Subordinate Lien Bond Interest and Sinking Fund for eligible debt service.
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