Creating a new public transportation option for Los Angeles International Airport
Public transport needed for a world-class airport
Los Angeles International Airport (LAX) launched an Automated People Mover project as part of its US$5.5 billion Landside Access Modernization Program to upgrade the airport in preparation for the 2028 Summer Olympics. The largest contract ever awarded by the City of Los Angeles, the APM project aimed to modernize and streamline landside access to the airport, reducing both traffic and the airport area's carbon footprint.
Designing a project bid and financial close
We represented the members of the LAX Integrated Express Solutions (LINXS) consortium in connection with its bid to design, construct, finance and operate the APM project, implemented with a combined bank/bond project financing that included US$1.2 billion in investment-grade private activity bonds and a US$270 million commercial bank construction facility.
A groundbreaking public-private partnership
The project, which expects that its automated electric train system will move 30 million passengers per year by 2023 to and from LAX, won P3 Bulletin's "Best Transit Project" 2018, Project Finance International's "Americas P3 Deal of the Year" 2018 and IJGlobal's "North American PPP Deal of the Year" 2018.