New York Airports See 11.6 Pct Fewer Passengers

Passenger traffic at New York City area airports dropped by 11.6 percent in the first quarter from a year earlier, reflecting the declining economy, the Port Authority of New York and New Jersey said Tuesday.

The Port Authority also reported that area ports suffered their biggest quarterly drop in more than 15 years, with volumes falling 17.4 percent. Air cargo traffic was down 29.8 percent.

These declines could increase the agency's wariness of backstopping loans to help build three towers at the World Trade Center site, which is owned by the Port Authority.

Port Authority Chairman Anthony Coscia said the agency's financial health remains solid. "Our overall financial position remains sound, but we need to tighten our belts and focus our limited resources on making the essential transportation investments that keep the region moving," he said in a statement.

PATH trains, which provide service between New Jersey and Manhattan, carried 2.3 percent fewer people, the first drop since the fourth quarter of 2003.

Automobile traffic across the agency's bridges and tunnels declined by 4.9 percent, while truck traffic fell 11.6 percent, the Port Authority said.