Cost per Enplaned Passenger (CPE)
Actual CPE from FAA CATS filings and projected CPE from airport Official Statements.
Cost per enplanement (CPE) is the most widely cited metric for comparing airline operating costs across U.S. airports — total airline payments (landing fees, terminal rents, and other charges) divided by enplaned passengers. Values range from under $5 at cost-efficient large hubs to over $40 at airports with major capital programs. See our full CPE analysis.
CPE Data — Large Hub
Bold = Actual (FAA CATS) · Italic = Projected (Official Statement)
| # ▲ | Airport | Enpax | FY 2024 | FY 2025 | FY 2026 | FY 2027 | FY 2028 | FY 2029 | FY 2030 | FY 2031 | FY 2032 | FY 2033 | FY 2034 | FY 2035 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ATL | 52,511k | $3.93 | $4.48 | $9.54 | $11.45 | $13.49 | $14.65 | $15.28 | — | — | — | — | — | '25AB OS, all-in CPE |
| 2 | DFW | 42,351k | $13.44 | $13.86 | $16.99 | $20.26 | $23.11 | $25.46 | $25.88 | — | — | — | — | — | '25AB OS |
| 3 | DEN | 40,013k | $12.76 | — | — | — | — | — | — | — | — | — | — | — | FAA CATS |
| 4 | ORD | 38,576k | $29.56 | $29.52 | $29.85 | $30.67 | $31.91 | $36.56 | $37.68 | $37.65 | $36.42 | $40.97 | $46.82 | $45.82 | '25AB OS |
| 5 | LAX | 37,761k | $30.16 | $33.85 | $38.10 | $42.85 | $46.41 | $50.64 | $51.82 | $55.88 | $57.39 | $58.88 | $60.72 | — | '25ABC OS |
| 6 | JFK | 31,466k | $36.01 | — | — | — | — | — | — | — | — | — | — | — | FAA CATS |
| 7 | CLT | 28,524k | $4.74 | $6.46 | $5.06 | $5.34 | $5.94 | $7.16 | $7.47 | $8.32 | $9.60 | — | — | — | '25AB OS |
| 8 | LAS | 28,245k | $5.36 | $7.13 | $8.66 | — | — | — | — | — | — | — | — | — | '25A OS |
| 9 | MCO | 27,860k | $8.18 | $12.56 | $13.84 | $15.19 | $15.65 | — | — | — | — | — | — | — | '24 OS |
| 10 | MIA | 26,588k | $16.83 | $17.62 | $19.60 | $21.87 | $24.48 | $26.28 | $28.81 | $30.62 | — | — | — | — | '25ABC OS |
| 11 | PHX | 25,596k | $7.81 | $8.62 | — | — | — | — | — | — | — | — | — | — | FY2025 FAA CATS |
| 12 | SEA | 25,415k | $18.24 | $19.43 | $22.51 | $25.60 | $27.53 | $29.07 | $30.84 | — | — | — | — | — | '25ABC OS |
| 13 | SFO | 25,079k | $32.14 | $28.11 | $24.57 | $28.43 | $35.51 | $41.60 | $46.01 | — | — | — | — | — | '25DE OS |
| 14 | EWR | 24,544k | $31.67 | — | — | — | — | — | — | — | — | — | — | — | FAA CATS |
| 15 | IAH | 23,349k | $10.66 | $11.17 | $12.93 | $12.71 | $11.95 | $13.31 | $13.24 | $13.21 | $13.21 | — | — | — | '25AB OS |
| 16 | BOS | 21,091k | $21.72 | $23.50 | — | — | — | — | — | — | — | — | — | — | FY2025 FAA CATS |
| 17 | MSP | 18,054k | $11.06 | $9.89 | $10.27 | $12.02 | $12.22 | $12.24 | $13.26 | — | — | — | — | — | '24AB OS |
| 18 | FLL | 17,096k | $10.20 | — | — | — | — | — | — | — | — | — | — | — | FAA CATS |
| 19 | LGA | 16,716k | $23.20 | — | — | — | — | — | — | — | — | — | — | — | FAA CATS |
| 20 | DTW | 16,111k | $8.88 | $12.61 | $13.22 | $13.55 | $13.63 | $13.08 | $13.12 | $13.19 | — | — | — | — | '25DEFGH OS |
| 21 | PHL | 15,102k | $15.03 | $16.33 | $16.39 | $18.43 | $17.80 | $15.15 | $16.37 | $17.62 | — | — | — | — | '25AB OS |
| 22 | SLC | 13,544k | $10.44 | $19.25 | $21.36 | $23.10 | $23.78 | $23.63 | $23.37 | $23.20 | — | — | — | — | '25AB OS |
| 23 | BWI | 13,221k | $10.57 | $11.57 | $11.61 | $12.37 | $12.63 | — | — | — | — | — | — | — | '24A OS |
| 24 | IAD | 13,003k | $12.88 | $9.51 | $12.57 | $15.86 | $16.51 | $17.43 | $20.71 | — | — | — | — | — | '25A MWAA OS |
| 25 | SAN | 12,780k | $17.35 | $18.52 | $20.85 | $21.86 | $25.24 | $26.78 | $28.54 | $29.43 | — | — | — | — | '25AB OS |
| 26 | DCA | 12,751k | $7.73 | $8.38 | $10.74 | $11.23 | $13.87 | $15.65 | $16.60 | — | — | — | — | — | '25A MWAA OS |
| 27 | TPA | 12,076k | $10.22 | — | $12.85 | $13.57 | $17.92 | $19.58 | $21.44 | — | — | — | — | — | '24AB OS |
| 28 | BNA | 12,059k | $8.49 | $9.41 | $10.91 | $11.39 | $12.55 | $15.83 | $17.48 | $17.11 | $16.73 | — | — | — | '25 OS |
| 29 | AUS | 10,678k | $13.54 | $16.08 | — | — | — | — | — | — | — | — | — | — | CLEARED |
| 30 | HNL | 10,449k | $20.92 | $21.57 | $17.97 | $19.49 | $22.34 | $25.37 | $26.56 | $27.25 | — | — | — | — | '25ABCD HAW OS |
| 31 | MDW | 10,360k | $15.59 | $27.82 | $27.90 | $28.09 | $29.45 | $28.01 | $30.09 | — | — | — | — | — | '25AB OS |
FY 2024 CPE — Large Hub
Colored = Actual (FAA CATS) · Gray = Projected (OS) · Dashed line = weighted average
Sources: FAA CATS FY2024 (actual CPE) · Airport Official Statements (projected CPE) · Hub classification: FAA CY 2024 Enplanement Data · Prepared by DWU Consulting
Actual vs. Projected CPE
Actual CPE comes from FAA CATS (Compliance Activity Tracking System) — realized airline costs reported annually. Projected CPE comes from airport Official Statements (OS) associated with bond issuances — consultant forecasts under assumed traffic scenarios. A CPE spike during a capital program peak followed by a decline as debt amortizes signals a different credit profile than persistently high CPE.
Related: Rate Methodologies · Airport KPIs · Airline Rates · Monthly Traffic