San Francisco International Airport (SFO) is expected to receive $192 million from President Joe Biden’s $1.9 trillion economic stimulus plan, including $23.7 million for airport concession rent relief, according to SFO officials.
The Biden administration stimulus package will provide $8 billion in relief to U.S. airports in addition to $12 billion provided through the federal Coronavirus Aid, Relief and Economy Security Act (CARES Act) and Coronavirus Response and Relief Supplemental Appropriations Act, both passed during President Donald Trump’s administration.
Kevin Burke, president and CEO of the Airports Council International-North America (ACI-NA), applauded the relief package, saying the “significant drop in passenger traffic has decimated airport finances.” Current estimates predict passenger traffic this year to be roughly 40 percent lower than pre-pandemic levels.
“The pandemic is projected to cost U.S. airports more than $40 billion by March 2022 — a number that will grow if the pandemic drags on,” Burke said in a statement. “Despite these challenges, American airports remain committed to ensuring the health and safety of the traveling public and airport workers by deploying enhanced sanitation procedures and adopting new technologies to limit the spread of COVID-19.”