LOS ANGELES AND ONTARIO AIRPORTS CONTINUE REBOUND IN PASSENGER AND CARGO VOLUMES

LAX Passenger Volume Soars 15.8 Percent, ONT Up Six Percent Over May Last

(Los Angeles, California – June 24, 2004) Passenger traffic at Los Angeles International Airport (LAX) in May soared 15.8 percent to 5,112,445 passengers compared with the same month in 2003, Los Angeles World Airports (LAWA) officials reported today. The increase was driven by a 27 percent jump in international traffic, while domestic traffic was up 12.2 percent. For the first five months of 2004, LAX passenger traffic totaled 23,804,448 -- up 11 percent compared with the same period a year ago.

At Ontario International Airport (ONT), passenger traffic in May reached 597,053 -- up six percent compared with May 2003. Year to date (January through May), ONT's passenger traffic totaled 2,771,213 -- up 6.4 percent compared with the same period in 2003.

"Passenger traffic at LAWA airports continued its strong rebound in May," said Kim Day, LAWA's interim executive director. "We are now in the midst of the busiest travel period since the record-breaking summer of 2001. The impressive gains we are seeing in both domestic and international travel this summer should bode well for the Southern California economy."

LAX expects to serve about 60 million passengers in 2004, compared with 54.8 million in 2003. The peak travel year was 2000, when 67 million passengers used LAX. ONT is expected to serve about seven million passengers this year, which would surpass the previous record of 6.7 million set in 2000.

Since the current LAX facilities were designed to accommodate 40 million annual passengers, the heavy passenger volumes this summer are resulting in crowded passenger terminals at peak times. Roadway congestion in and around LAX is also a factor that travelers need to take into account when planning their trips to the airport. ONT's facilities were designed to accommodate 10 million annual passengers.

Air cargo (freight and mail) volume at LAX in May was 175,996 tons -- up 5.7 percent over May last year. For the first five months of this year, air cargo at LAX rose to 834,328 tons -- three percent higher than the same period last year.

Air cargo (freight and mail) volume at ONT in May was 45,963 tons -- 0.5 percent less than May last year. However, year-to-date air cargo volume at ONT is 253,026 tons -- 12.5 percent higher than the same period last year.