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Pandemic Paves Way For Rethinking Costs, Contracts

Pandemic Paves Way For Rethinking Costs, Contracts

…dipping into those funds and CARES Act funds to lessen the burden on its partners. “It’s pouring.” Nashir and Montgomery both touched on the practice of including Minimum Annual Guarantees (MAG) in airport contracts. Nashir noted that at SFO, as part of lease language, they have been suspended until there…

Pandemic Paves Way For Rethinking Costs, Contracts

ARRA, AMAC Issue Call To Action On Federal Relief Bill

…[operators].” The CARES Act refers to the first relief package offered by the U.S. government in the wake of the COVID-19 pandemic. That act appropriated roughly $10 billion in relief for U.S. airports but none directly for airport concessionaires. In addition, the U.S. House of Representatives has passed the Heroes…

ARRA Predicts Massive Concessionaire Losses; Urges Smart Reopening

ARRA Predicts Massive Concessionaire Losses; Urges Smart Reopening

…relief airports were given through the CARES Act to deferring capital investment in new concessions development projects. Weddig said the passenger experience is at stake. He noted the complexity of the aviation system, with airports, concessionaires and other stakeholders deeply intertwined and interdependent. “If you look at all of those…

FAA To Award $793 million in Airport Infrastructure Grants

FAA To Award $793 million in Airport Infrastructure Grants

…Airport Improvement Program (AIP) and $104.4 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act . “This nearly $800 million Federal investment in airport infrastructure will strengthen safety, improve travel, generate jobs and provide many economic benefits for local communities,” said Chao. The 383 grants in total include $9.4…

Uncertainty Continues As Airports, Concessionaires Grapple With Recovery

Uncertainty Continues As Airports, Concessionaires Grapple With Recovery

…new facilities that we’re building here.” Erbacci urged concessionaires to “understand what drives the economic and financial objectives of the airport,” and stressed that each airport is different. Lyttle stressed that the relief SEA provided to concessionaires came at a cost. SEA received $192 million from the CARES Act that…