Like much of the transportation industry during the COVID-19 pandemic, America’s airports are experiencing significant losses in revenue. Airports Council International predicts that the U.S. airport industry will lose $23 billion as a result of COVID-19. Title XII of Division B of the Coronavirus Aid, Relief, and Economic Security, or CARES, Act addresses these significant economic disruptions by providing approximately $10 billion to U.S. airports “to prevent, prepare for, and respond to the impacts of the COVID-19 public health emergency.” The funding is somewhat discretionary, with a requirement that it be used for any purpose for which airport revenues may lawfully be used, so long as the use of funds is related to the airport,
On April 14, 2020, the Federal Aviation Administration (FAA) issued information regarding the application for and distribution of approximately $10 billion in relief funds to airports that fall within four categories under the Coronavirus Aid, Relief and Economic Security Act (CARES Act), signed into law on March 27, 2020.
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