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March 27, 2020

Covid-19: US announces stimulus package for general aviation airports

The $2tn stimulus package announced by the US Senate to aid the economy duing the Covid-19 pandemic includes $100m for general aviation (GA) airports.

The $2tn stimulus package announced by the US Senate to aid the economy duing the Covid-19 pandemic includes $100m for general aviation (GA) airports.

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This amount is also expected to help in maintaining the access of small and rural communities to aviation services.

The funding provided to GA airports is a part of the $10bn emergency appropriation allocated to airports in the stimulus plan.

On 25 March, the Senate passed the plan with a vote of 96 to zero. The plan is pending approval from the White House and will be sent to President Donald Trump for signing on 27 March.

The funds will be issues from the general fund and not from Airport and Airway Trust Fund. The money can be used by the airports for any purpose ‘on which airport revenue may lawfully be spent’.

This funding does not require any local match as the share from the federal government will be 100%.

Non-hub and small airports were exempt from a clause to require airports that receive funding to retain a minimum of 90% of their work force until the end of 2020.

Aircraft Owners and Pilots Association president Mark Baker said: “We need these airports and I just want to thank those in Congress who understand the importance of them, especially the thousands of small airports across the country. I appreciate the fact that they ensured this emergency funding is a priority as the nation works to meet the challenges caused by this pandemic.

“These airports provide critical services to many communities and account for millions of operations each year, while also doing distinguished service during emergencies including natural disasters.”

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Navigate your business through the ‘new normal’

COVID-19 continues to dominate headlines the world over. It has already affected our lives forever. The way we work, shop, eat, seek medical advice, and socialize will all be different in the future. Quite how different remains to be seen, but all industries must plan for multiple eventualities.  Faced with an explosion of conflicting information on how to plan and implement successful recovery strategies, decision-makers are in dire need of a single, reliable source of intelligence.   GlobalData’s COVID-19 Executive Briefing gives you access to unparalleled data and insights to successfully navigate the uncertain road to recovery across the world’s largest industries. Understand every aspect of this disruptive theme by delving into: 
  •  COVID-19 infection update, with statistics on the spread, testing by country, as well as the latest data on vaccines and therapeutic developments 
  • Economic impact overview, covering stock market indices, GDP, unemployment rates, policy responses & GlobalData’s economic recovery scorecards 
  • Sector developments, with access to sector insight summaries, cross-sector indices and the leaders and laggards in each industry vertical 
Whatever your company’s imminent strategic plans, the long-lasting impact of COVID-19 must not be overlooked. Find out how to futureproof your business operations – download our report today. 
by GlobalData
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