WASHINGTON – Airports Council International – North America (ACI-NA), the trade association representing commercial service airports in the United States and Canada, today applauded the passage of The CARES Act – the U.S. economic stimulus package coming in response to the COVID-19 global health pandemic.
“On behalf of airports across the United States, we want to thank Congress for passing this landmark legislation to help all Americans suffering through health or financial burdens created by the coronavirus pandemic. Members of both parties showed tremendous leadership marshalling this legislation from inception to passage as more Americans tested positive for this virus and financial losses mounted for individuals and businesses across the country,” said President and CEO of ACI-NA Kevin M. Burke. “The CARES Act will help offset the $14 billion and counting airports will lose as the result of this steep, unexpected drop in travel. We want to thank the President, Vice President and Treasury secretary for their leadership, as well as Congressional leaders in both parties in the House and Senate.”
Based on preliminary assessments by ACI-NA, the COVID-19 outbreak will cost U.S. airports at least $13.9 billion in calendar year 2020, a significant setback from previously forecasted stable growth prospects. This estimate is based on the following projections:
- Passenger traffic at U.S. commercial airports is expected to fall by 73 percent in the March to June period, which represents a 53 percent decrease in the first half of 2020 and a 37 percent drop for the full year compared to forecasted 2020 levels.
- Total passenger enplanement is anticipated to fall by 244 million in the first half of the year and 349 million for the full year.
- Total airport operating revenue is expected to decrease by roughly $12.3 billion for the calendar year, representing a nearly 49 percent reduction driven by cancellations and other reductions in domestic and international air travel, as well as dramatically lower non-aeronautical revenue.
- Collection of the Passenger Facility Charge, a critical funding source for U.S. commercial airports, is expected to fall by close to $1.6 billion in 2020.
The full economic forecast can be downloaded here.