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Click below to read the report. 
Four airport directors outlined how they see the industry evolving during a panel discussion convened by conference call yesterday.
US airport concessionaires in battle for survival as they urge government and airport partners to offer relief.
USA. “Some companies could fall off the edge within a month. It’s hard to say for each one but a large number of them are at risk right now. If they don’t get relief within weeks, we could lose them.” This document answers frequently asked questions (FAQs) stakeholders may have related to the approximately $10 billion in grants for airports under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
PURPOSE This document addresses common issues that have arisen or may arise for airport sponsors during the response to the COVID-19 public health emergency. The Federal Aviation Administration (FAA) Office of Airports will evaluate specific requests regarding restrictions or accommodations on a caseby-case basis. The FAA retains maximum flexibility to consider unique circumstances during this public health emergency. The FAA separately has published frequently asked questions (FAQs) related to the approximately $10 billion in grants for airports under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. READ THE FULL PDF HERE Source: FAA Date of Article: May 29, 2020 Editor’s Note: One month ago, the Airport Restaurant & Retail Association (ARRA) tapped Rob Wigington to be its first executive director. At that time, COVID-19 was a vague but growing threat, one that few, if any, thought would morph into the destructive force that it is.
Airport concessionaires are hoping to see part of the $10 billion awarded to airports through the CARES Act flow to them in the form of rent waivers and other assistance in the midst of the COVID-19 pandemic.
1. Please clarify the desired and realistic timetable for relief from both airports and Congress...realizing that airports are more capable to provide more timely relief/concessions.
ARRA and AMAC have requested from U.S. airports immediate relief in the form of a 12-month rent waiver. We also requested from Congress $2.5 billion in funds to support rent abatement that we had hoped would come in the CARES Act which was approved by Congress on March 27, 2020. While direct financial relief for airport concessions operators did not make it into this bill, it is expected that there will be a follow-up stimulus package and we are again lobbying for concessions rent financial relief, as well as zero and low interest loans and loan guarantees ($3 billion) , and recovery relief funds ($3 billion) to support concessionaires’ debt payments, capital investment obligations, and operations. We expect Congress will try to move quickly to pass more relieve/stimulus bills, but it may be 3 to 4 weeks or longer before we will know the outcome of these efforts. READ THE FULL PDF HERE Source: AMAC Date of Article: March 25, 2020 |
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