The Federal Aviation Administration announced today that Philadelphia International Airport (PHL) can expect to receive approximately $116 million in CARES Act funding, which translates into about 3 months of cash on hand to support airport operations. PHL is owned and operated by the City of Philadelphia Division of Aviation, which supports 800 staff along with 200 police and fire department personnel.
The CARES Act relief funding is meant to support airport worker jobs, keep credit stable and allow the airport to meet ongoing expenditures. Generally, this is what the legislation was meant to address: making payroll, paying vendors and making debt service payments. PHL has offered a relief package to its airport tenants, including airlines, concession operators, rental car companies and more. The package is a 3 month deferral of tenant rental payments.
PHL, along with its sister general aviation airport at Northeast Philadelphia Airport, are prepared to support the country’s goal to gradually and safely reopen travel across domestic and international borders. In the meantime, it will continue to ensure the transportation of critical supplies and personnel throughout the country.