A shutdown of the Los Angeles International Airport could be the biggest economic blow in the city’s history, according to a Los Angeles Times analysis of a preliminary FAA estimate.
The report found the FAA estimated a shutdown of Los Angeles’s airport would result in $1.1 billion in lost revenue, but added the shutdown would not impact the economy.
The FAA said in its preliminary estimate that the shutdowns would add $1 billion to the city budget.
The agency said it did not have an estimate of the economic impact of the shutdown, which could be as high as $2.6 billion.
The report estimates the cost of a closure would be $1,800 to $3,200 per day.
“We are taking a major economic hit, not only for Los Angeles, but for the region,” said Kevin Fagan, an aviation consultant who is a member of the advisory board of the California Association of Airport Officials.
“The regional economy would suffer.”
Los Angeles County Mayor Eric Garcetti said the region is in a dire situation.
The county is on the brink of a budget shortfall of $100 million, and Garcetti has repeatedly called for a public vote on the airport’s future.
He said the county could not afford to keep the airport open if the shutdown goes through, which is what it is doing right now.
He said the airports current revenue was not sufficient to cover its costs, and the airport was facing $8 million in emergency funding that would be cut if the airport were closed.
The Associated Press contributed to this report.