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IATA: Slow Recovery Needs Confidence Boosting Measures

IATA: Slow Recovery Needs Confidence Boosting Measures

…towards zero (measured by new infections as a percentage of the seven-day moving average of total COVID-19 cases). While there was an early upswing from mid-February into the first week of March, the number of domestic flights plateaued at just over 40 percent of pre-COVID-19 levels. Actual demand is expected…

U.S. Travel: Coronavirus Impact 9x Worse Than 9/11

U.S. Travel: Coronavirus Impact 9x Worse Than 9/11

…the end of April, declines in travel due to the COVID-19 pandemic will cause eight million jobs to be lost out of approximately 24 million for the entire U.S. economy, according to the report. Travel spending losses are on track to top $500 billion by the end of 2020, the…

LAWA Approves Relief Package For LAX Tenants

LAWA Approves Relief Package For LAX Tenants

Concessionaire partners at Los Angeles International Airport (LAX) will pay percentage rent rather than a minimum annual guarantee (MAG) from April 1 through June 30 as a result of passenger traffic declines due to COVID-19. Those percentage rents can also be deferred until July 1 through December 31 of this…

GOAA Approves MCO Payment Deferrals

GOAA Approves MCO Payment Deferrals

A decrease in passenger traffic attributed to the global COVID-19 pandemic was the cause of financial relief offered to concessions, airline and on-site rental car operators at Orlando International Airport (MCO). The Greater Orlando Aviation Authority (GOAA) approved a limited deferral of $17 million in “specified payments due May 2020,”…

RDU Approves Beverage Deal With Pepsi

RDU Approves Beverage Deal With Pepsi

…the federal government, which provided $49.5 million in relief due to the impact of COVID-19. Those funds will be used to pay for debt service, salaries and benefits, the authority notes. March passenger traffic at RDU was down nearly 52 percent compared with March 2019, but has decreased by approximately…