The Massachusetts Port Authority set its fiscal 2013 operating budget at $380.4 million, a 1 percent decrease from this year’s budget.
The reduction reflects lower expenses due to the loss of the Suez Canal shipping service at Conley Terminal and the discontinuation of commercial airline service at Worcester Airport.
Massport is the independent public authority that owns and operates Logan International Airport in Boston, L.G. Hanscom Field, the Tobin Memorial Bridge, and certain facilities at the Port of Boston.
The Massport board approved the budget Thursday.
“This fully funded spending plan reflects the steady but very modest growth as the airline industry works through some consolidations, bankruptcy filings, and the sluggish national economy,” David Mackey, Massport’s interim chief executive, said in a statement. “Despite these headwinds, we expect passenger levels will reach a new all-time high, setting yet another record at Logan Airport.”