Philadelphia International Airport and Northeast Philadelphia Airport (PNE) will receive approximately $115.18 million in relief funding from the American Rescue Plan Act, a $1.9 trillion coronavirus stimulus package passed by Congress.
PHL will receive $115 million, of which $13.7 million will be allocated to its concessions program, and the smaller airport will receive $148,000.
“We are so grateful to Congress for supporting the inclusion of additional Covid-19 relief funding for airports in this package,” said PHL and PNE CEO Chellie Cameron.
American airports will receive $8 billion, with an additional $800 million carveout for airport concessionaires.
As anyone who has recently flown knows, many concessions remain closed or operate with limited hours.
At the two airports, the American Rescue Plan funding will be used to support airport operations, including covering payroll, paying vendors and paying debt service. Typically, the airport covers its operating costs and generates revenue through tenant leases, parking, concessions and other fees.
PHL served 11.9 million passengers in calendar year 2020, a 64% decrease from the 33 million passengers it received in 2019.
Airport businesses such as airlines, contractors and concessionaires saw corresponding drops in revenue, resulting in a 21% decrease in airport personnel at PHL While the airport is forecasting a gradual increase in passenger volume this year, variables such as vaccination rates and travel restrictions remain unpredictable.
Travel industry projections predict that a return to 2019 travel volume will take three to five years, although surges have been seen in the past couple of months that took some by surprise.
Icelandair returning to BWI
