Under city law, airport businesses must pay a "living wage" of nearly $16 per hour, even though the Proud Bird merely sits on LAX-owned land. It can't compete with nearby restaurants not subject to the rule.
This is one of many sad details in this story. The planes can, and should, go to a museum, but unless the employees can get a job in another airport business they may end up having to work for greatly reduced wages.
On the other hand having learned this particular fact if I’m ever in LAX I will never complain about the price of a drink and a sandwich.