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Hurting SoCal Airports Get More Than $350 Million In Government Aid
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Southern California airports have seen traffic plummet by more than 90 percent due to the COVID-19 outbreak.
As part of the federal aid package known as the CARES Act, hundreds of millions of dollars will now be directed to help them.
Overall $10 billion is being assigned to help airports nationwide that have lost money during the pandemic.
Local airports normally rely on revenue from aircraft landing fees, leases from airport tenants, concession fees and parking. The massive reduction in passengers means that income has fallen drastically.
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The CARES Act cash infusion will help airports cover debt service, payroll and other expenses.
LAX will get the most – more than $300 million.
John Wayne Airport in Orange County will get nearly $45 million.
Long Beach, Burbank and Ontario airports will each get between $18 to $22 million.
Santa Monica City Council plans to close its small airport in 2028. So it has been rejecting grants that might impose a requirement to keep operating. The city is still evaluating whether to accept $69,000 in CARES Act money.
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