Tampa International Airport expects passenger traffic to reach 25 million in fiscal 2027 as it proposes a $540.1 million operating revenue budget and more than $312.4 million in capital projects. The Hillsborough County Aviation Authority is scheduled to vote Thursday on the budget, which would take effect Oct. 1.
Operating revenue is projected to increase $48.4 million, or 9.9%, from the $491.7 million expected this fiscal year, while operating expenses would rise 9.2% to $228.5 million. After $3.1 million in airline revenue sharing and $123.8 million in debt service, the authority expects to have $184.7 million available for capital improvements, air service incentives and reserves.
Of that amount, $78.9 million would help fund a fiscal 2027 capital program spanning 32 projects worth more than $312.4 million, while another $4.4 million would go toward capital equipment. The remaining money would add to reserves, which are projected to rise from $525.5 million at the end of fiscal 2026 to $601.7 million a year later.
That capital spending comes as TPA begins putting some of its recent investment into service. Eight new shuttles are now operating at Airsides A and C, completing a $61 million vehicle replacement that had carried passengers since the 1990s. The project replaced the cars along with their running surfaces, controls and signaling systems, retiring a fleet whose cars had each traveled more than 1 million miles.
Their replacements have improved lighting, video information screens and obstacle-detecting doors, while the underlying system uses new electrical equipment and concrete guideways. TPA is the first airport to pair the shuttles with manufacturer Alstom’s new operating system, technology that is now moving into Airside E.
Airside E is undergoing a separate $30 million shuttle and guideway upgrade, with new Red cars already installed and Blue cars coming before work concludes later this year. That brings TPA’s investment across the three shuttle systems to about $91 million, funded through bonds and state grants, while the airport has ordered new cars for the forthcoming Airside D and plans replacements at Airside F.
Airside D
The investment at Airside E could grow by another $28.8 million Thursday, when the Aviation Authority is scheduled to vote on a contract with AERO Bridgeworks Inc. to replace 13 passenger boarding bridges there. AERO submitted the lower of two bids at $28.8 million, about $5.7 million below Foresight Construction Group’s $34.5 million proposal.