$2 DAILY RATE INCREASE FOR ECONOMY PARKING LOTS B AND C APPROVED AT LOS ANGELES INTERNATIONAL AIRPORT

(Los Angeles, California -- October 19, 2009)  The Los Angeles Board of Airport Commissioners today approved $2 daily rate increases for off-airport Economy Parking Lots B and C at Los AngelesInternationalAirport (LAX).  The new rates become effective November 19, 2009.

            Economy Parking Lot B and C’s rates will increase from $8 and $10 per day, respectively, to $10 and $12 per day.  Both lots will continue to offer free parking for the first two hours and to charge $1 for every two hours up to the daily maximum. Free shuttle bus service 24 hours a day, seven days a week will continue to be offered between the two parking lots and LAX’s passenger terminal area.   

            Economy Parking Lot C is located at 96th Street and Sepulveda Boulevard, one-quarter mile from the passenger terminal area.  Parking Lot B is located at 111thStreet and La Cienega Boulevard, less than two miles from the terminal area.

            The rate increases are expected to help off-set rising costs for operation, maintenance and security of the lots, as well as for the free shuttle bus service that takes passengers from the parking lots to the passenger terminals.  The daily rates at Lots B and C were last raised in 2002.  Prior to that, rates had not been changed since 1990. 

            The rate increase comes after a recent survey of privately owned off-airport parking lots around LAX showed that even with a $2 per day increase, LAX’s economy parking lots would still be priced well below other lots in proximity to LAX, which charge between $10 to $19 daily, depending upon proximity to the passenger terminals.    

            Also part of today’s Board action, the rates for airport employee parking will increase from $30 to $50 monthly in Employee Lot D, and from $15 to $30 monthly in Employee Lot E.  These new rates will become effective February 1, 2010.  A new premium employee parking lot, that is not currently offered and that will charge $124 monthly, will be offered in the near future.  The rate increases for employees come after a survey of employee parking fees at 12 major U.S. airports showed that even with the increases, employee parking fees at LAX would still be in the bottom half of fees charged by other airports that ranged from $25 to $100 monthly.