Airport Finance Past Funding Levels May Not Be Sufficient to Cover Airports Planned Capital Development

By Dillingham, Gerald L.

Description
Government Accountability Integrity Reliability Office Collection

Excerpt
Excerpt: We are pleased to be here today to discuss airport financing issues, which are particularly important as you prepare to reauthorize the Wendell H. Ford Aviation Investment and Reform Act for the 21 Century (AIR-21). Much has changed since the Congress enacted AIR-21 3 years ago. At that time, the focus was on reducing congestion and flight delays. Today, flights are being canceled for lack of business, two major air carriers are in bankruptcy, and attention has shifted from increasing the capacity of the national airspace system to enhancing aviation security. Furthermore, as the federal budget deficit has increased, competition for federal resources has intensified, and the costs of airport capital development are growing, especially with the new requirements for security. Nonetheless, analysts expect the demand for air traffic services to rebound. Until that time, the unexpected slump in air traffic creates a window of opportunity to improve the safety and efficiency of the national airport system.

Book Id: WPLBN0000103838
Format Type: PDF eBook
File Size: 419.06 KB
Reproduction Date: 2005
Full Text

Title:

Airport Finance Past Funding Levels May Not Be Sufficient to Cover Airports Planned Capital Development

Author:

Dillingham, Gerald L.

Volume:

Language:

English

Subject:

Government publications, Accountability in government, United States. General Accounting Office

Collection:

Government Accountability Integrity Reliability Office Collection

Subcollection:

Historic
Publication Date:

Publisher:

United States General Accounting Office (GAO)

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