Airports are projecting they will need $94.4 billion of capital over the next five years, and may rely less on bond issuance to fulfill those needs, according to a report released Friday by the trade group Airports Council International-North America.

About $23.7 billion of those capital costs would be essential to meet traffic needs, but a funding source has not yet been identified and those projects may not be able to go forward without funding, the report said.

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