The parabolic Airy line ensemble A is a central limit object in the KPZ universality class and related areas. On any compact set K = {1, . . . , k} × [a, a + t], the law of the recentered ensemble A−A(a) has a density X K with respect to the law of k independent Brownian motions. We show thatwhere S is an explicit, tractable, non-negative function of f . We use this formula to show that X K is bounded above by a K-dependent constant, give a sharp estimate on the size of the set where X K < ǫ as ǫ → 0, and prove a large deviation principle for A. We also give density estimates that take into account the relative positions of the Airy lines, and prove sharp two-point tail bounds that are stronger than those for Brownian motion. The paper is essentially self-contained, requiring only tail bounds on the Airy point process and the Brownian Gibbs property as inputs.1. Almost surely, L satisfies L i (r) > L i+1 (r) for all pairs (i, r) ∉ 1, k × (0, t).