The Transportation Department is set to distribute $10
billion in Cares Act grants to U.S. airports.
The grants have been divided among more than 3,000
commercial and general aviation airports in the U.S., with the largest amounts
going to the most trafficked airports. The funds can be used by the airports to
support continuing operations, replace lost revenue resulting from the Covid-19
outbreak and for capital improvement projects and debt payments.
In return, airports are required to retain at least 90% of
their workforce through the end of the year.
“This $10 billion in emergency resources will help fund the
continued operations of our nation’s airports during this crisis and save
workers’ jobs,” Transportation Secretary Elaine Chao said in a statement.
Atlanta Hartsfield-Jackson will be the largest grant
recipient at $338.5 million. Los Angeles ($323.6 million), Dallas/Fort Worth
($299.2 million), Chicago O’Hare ($294.4 million) and Denver ($269 million)
round out the top five.
Air traffic in the U.S. is currently down approximately 95%
from a year ago.