The trade association representing commercial service airports in North America recently released a report detailing a $128 billion need for new infrastructure, further shackled by a $91.6 billion debt from past efforts.
“The results are in and it is painfully clear that airports are terminally challenged,” Kevin Burke, Airports Council International-North America (ACI-NA) president and CEO, said. “Inadequate airport infrastructure that fails to meet the growing needs of local businesses and tourists puts in jeopardy the continued economic growth of American cities, states, and regions. Airports are experiencing record growth, but aging and outdated infrastructure threatens their ability to serve their passengers and local communities.”
The $128.1 billion listed in the report “Terminally Challenged: Addressing the Infrastructure Funding Shortfall of America’s Airports” would be spread out over a period of five years. According to the ACI-NA’s analysis, that funding would cover both modernization of existing facilities and predicted increases to passenger and cargo traffic. Much of this would go to terminal projects, but it would also allow room for aircraft innovation.
The ACI-NA believes that modernizing the federal cap on the Passenger Facility Charge (PFC) would provide airports with the self-help they need to finance important infrastructure projects.
“Fortunately, we can rebuild America’s airports without raising taxes or adding to deficit spending by modernizing the federal cap on the PFC,” Burke said. “Modestly adjusting the federal cap on local PFCs would allow airports to take control of their own investment decisions and become more financially self-sufficient.”