The single factor most tied to concession success is the footfall past the concession locations. This leads to another possibility: to eliminate MAGs and tie airport payments to sales only. There are a few limitations, however, that make this a less than optimal solution. Importantly, the $2 billion is not subject to the reduced apportionments for larger airports that also impose passenger facility charges (PFCs). The joint venture lease must be similar to those given to other concessionaires, and enforcement of the airports rules and performance requirements must be uniform. Airports would have to offer benefit packages to these employees in line with those provided to other employees of the airport. 84, Fiduciary Activities. At least $500 million is available to increase the federal share to 100% for grants awarded under the fiscal year 2020 appropriations cycle for FY20 Airport Improvement Program (AIP) and FY20 Supplemental Discretionary grants. President Donald Trump has already tweeted his support for such an infrastructure bill. Airport Operations Flashcards | Quizlet Phoenix airport restaurants get rent relief during coronavirus A Guide to Transportation Funding Options - Texas A&M University The airport environment is complex and has become even more challenging due to COVID-19. If you are a sponsor who controls multiple airports the FAA has stated in its CARES Act FAQ, an airport sponsor may use funds at any airport under its control. Airport Retailer Dufry's Sales Rise By Over 50% In 2021, But - Forbes However, there is no relief of the obligation to withhold and remit the corresponding employee share. Given the current state of the economy, Congress has turned to working on the next comprehensive economic relief package, which is being referred to as CARES 2.0. Concessions Development - Airport University All rights reserved. COVID-19 has sent shockwaves throughout the world. In either case, history has shown that MAGs are not supportable in the event of severe downturns. When passenger traffic does come back, airports should rethink how their concession contracts work. Most experts agree that there will be no quick snapback of passengers, so airports face the issue of having too many concessions locations or even too many operators. SFO Launches Emergency Rent Relief Program for Airport Concession Like their partners in the airline industry, airports have been dramatically affected by the slowdown in flights and passenger traffic associated with COVID-19.

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