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Canadian government announces $740 million in spending to support nation's airports | FULL

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Canadian Transport Minister Omar Alghabra laid out Tuesday how approximately $740 million in funding to help Canada's airports amid the COVID-19 pandemic would be distributed.

He was joined by National Revenue Minister Diane Lebouthillier and Gudie Hutchings, parliamentary secretary to the minister for women and gender equality and rural economic development.

The funding was initially announced in the Fall Economic Statement in November 2020, however with the 2021 budget having been passed, the government announced two new programs — the Airport Critical Infrastructure Program and the Airport Relief Fund — and explained how airports could access the funding.

Under the infrastructure program, funding will allocate about $490 million to assist Canada's larger airports with critical infrastructure projects like runway repairs and transit stations, while the relief fund will see eligible airports whose revenue in 2019 was less than $250 million receive money from a $64.8 million fund. Tuesday's announcement also included $186 million being added to Transport Canada's Airports Capital Assistance Program (ACAP) to help local and regional airports for safety-related infrastructure projects and the purchase of equipment.

The aviation industry has been among the hardest-hit sectors during the COVID-19 pandemic, with profits and passenger numbers plummeting amid travel restrictions and border shutdowns.

For more info, please go to https://globalnews.ca/news/7850790/federal-government-covid-airports-relief-package/

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Category
U.S. & Canada
Tags
global news, Canadian airports, funding for Canadian airports
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