A Benefit-Cost Analysis of the Airport Improvement Program (AIP), Fiscal Years 1982 through 1985.
FEDERAL AVIATION ADMINISTRATION WASHINGTON DC OFFICE OF AVIATION POLICY AND PLANS
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This report assesses the major benefits and costs of airside capital and planning investments in the U.S. public airport system. The assessment centers on the Airport Improvement Program AIP, the current federal airport grant program, but the findings and conclusions are also applicable to airport projects funded by other sources -- e.g., non-AIP state and local funding. An estimate is made of the major airside life-cycle benefits that have accrued and that are expected to accrue from capital and planning investments made under the AIP from FY 1982 through FY1985 inclusively and their attendant life-cycle operations and maintenance costs. Because not all types of benefits are quantified, the study should be considered conservative in that it probably understates total investment impact. Benefits consist of improved airport safety, preservation of airport capacity, environmental protection and economic development. Costs consists of capital and planning investments and the attendant life-cycle operations and maintenance costs. The life-cycle benefits quantified total 25.28 billion 1985 dollars at 1985 discounted present value. Comparing this with the corresponding life-cycle costs of 6.32 billion yields a benefitcost ratio of 4.00 to 1.
- Terminal Flight Facilities
- Economics and Cost Analysis