U.S. Transportation Secretary Elaine Chao has announced that approximately $10 billion in relief funds will be awarded to commercial and general aviation airports through the Coronavirus Aid, Relief, and Economic Security (CARES) Act Airport Grant Program. According to the Department of Transportation, the funding will “support continuing operations and replace lost revenue resulting from the sharp decline in passenger traffic and other airport business” due to the coronavirus (COVID-19) pandemic. The program application and grant agreement process is being handled through local FAA Office of Airports field offices.
“Thank you to the dedicated men and women from the FAA’s Office of Airports for creating an entirely new program in record time to assist airport sponsors in desperate need of these funds,” said FAA Administrator Steve Dickson.
CARES Airport Grant Program funds cans be used for airport capital expenditures, airport operating expenses including payroll and utilities and airport debt payments. The CARES Act also provides funding provisions for increasing the federal share of fiscal year 2020 Airport Improvement Program (AIP) and Supplemental Discretionary grants to 100 percent. AIP grant recipients are typically required to match federal contributions.