Miami International Airport
Large HubMiami, FL · MIA
Recent News
Updated Mar 15, 2026Miami International Airport opened 15 private luxury sleep rooms in Concourse D on March 10, marking the first Wait N' Rest location in North America. Rooms accommodate 1-4 people and can be booked by the hour. A second location is planned for Concourse H this summer.
American Airlines and Miami-Dade County announced a $1 billion expansion of Concourse D at Miami International Airport. The project will add 17 new gates, modern passenger hold rooms, and expanded concessions, with groundbreaking set for 2027 and completion by 2030.
Miami International Airport reported its sixth consecutive year of air cargo growth, with 2025 volumes up 13.6% year-over-year to nearly 3.5 million tons. The airport remains America's busiest for international freight.
Miami International Airport launched TSA PreCheck Touchless ID in North, Central and South Terminals on February 10. The biometric technology allows eligible travelers to verify identity without presenting physical ID or boarding pass, reducing security checkpoint time.
CLEAR launched biometric eGates at two of MIA's busiest checkpoints in December 2025, allowing CLEAR+ members to verify identity in under five seconds. The deployment prepares for increased passenger volumes expected during FIFA World Cup 2026.
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
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Common Use & Gate Allocation
Additional Bonds Test
Additional Bonds may be issued on a parity basis if: (i) proceeds plus other available funds cover estimated costs; (ii) either (a) historical Net Revenues (adjusted) divided by the largest annual Principal and Interest Requirements (including new bonds) is at least 120%, or (b) projected annual Net Revenues in each of five Fiscal Years (per Traffic Engineers) divided by Principal and Interest Requirements for each such Fiscal Year is at least 120%; and (iii) the Reserve Account is fully funded. Completion bonds may be issued without the financial test if prior bond proceeds are insufficient.
Rate Covenant
The County covenants to fix, charge, and collect rates and charges sufficient to yield Revenues that provide: (i) funds for payment of Current Expenses; (ii) deposits to the Reserve Maintenance Fund; and (iii) deposits to the Sinking Fund of not less than 120% of the Principal and Interest Requirements for each fiscal year on account of the Bonds of each Series Outstanding, plus deposits/payments to the Reserve Account or to providers of Reserve Facilities.
Flow of Funds
All Revenues are deposited in the Revenue Fund. Funds are then applied in priority: (1) Current Expenses (retain 20% operating reserve, currently 17% by Board resolution); (2) Trustee receives monthly withdrawals from Revenue Fund to deposit: (a) 1/6th of semiannual interest and 1/12th of serial principal to Bond Service Account, (b) 1/12th of Amortization Requirement (term bonds) plus premium to Redemption Account, (c) 1/60th of Reserve Account Requirement to Reserve Account (until fully funded), (d) amounts to Reserve Maintenance Fund as recommended by Consulting Engineers, and (e) remaining funds to Improvement Fund for any airport-related purpose.
Source Documents
Official Statements
Financial Statements
Budgets
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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