Coronavirus Impact: South Florida Airports Receive $342 Million In COVID-19 Relief Aid
MIAMI (CBSMiami) – Airline travel is at a practical standstill due to the coronavirus pandemic and both airlines and airports are suffering financially, but airports across the country, including South Florida, are receiving massive financial assistance thanks to federal government funding.
Tuesday, the U.S. Department of Transportation announced $10 billion in relief funding for about 3,000 airports in all 50 states.
In Florida, there are about 100 airports which will split $896 million.
In Miami-Dade and Broward Counties, there are nine airports that will receive more than $342 million.
The largest amount, $206,949,557, will go to Miami International Airport while Fort Lauderdale Hollywood International Airport will receive $134,958,902.
Opa-Locka Airport and Fort Lauderdale Executive are both slated to receive $157,000, while South Florida's smaller airports including Miami Executive, North Perry and Pompano Airpark will each receive $69,000. Homestead General Aviation will get $30,000 and the Seaplane base near PortMiami will receive $20,000.
The money comes from the Federal Aviation Administration through the Airport Improvement Program with the federal funding being made available through the CARES Act.
"This $10 billion in emergency resources will help fund the continued operations of our nation's airports during this crisis and save workers' jobs," said U.S. Transportation Secretary Elaine L. Chao.
Airports Council International, which represents airports globally, estimates airports in the United States will lose nearly $14 million due to the pandemic.
This funding will support continuing operations and replace lost revenue due to the sharp decline in passenger traffic and other airport business.
Airports have different sources of revenue, but the largest chunk is from passengers coming in and out of the airports themselves. According to the Airports Council, about 90-percent of U.S. airport profits come from non-aviation sources, including parking charges, restaurants, bars, and other concessions. The rest of an airport's profits are from airlines paying landing fees, but less flights mean less landing fees.
