MGM Receives $2,576,658 from CARES Act Airport Grants Program


MGM Receives $2,576,658 from CARES Act Airport Grants Program

(Montgomery, Alabama) – On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted to provide nearly $10 billion in relief to airports throughout the United States.  The aviation industry has been particularly hard hit by the global pandemic caused by the novel coronavirus (COVID-19), with a projected loss of more than $13.9 billion in airport revenue this year.  This federal CARES support package will provide critically needed funding to assist airports with maintaining operations and personnel and with meeting bond obligations.

The U.S. Department of Transportation/Federal Aviation Administration (DOT/FAA) has released details of the CARES Act Airport Grants program, which will award relief funds to the Montgomery Regional Airport (MGM) and other airports in Alabama and across the nation.  MGM will receive a grant award of $2,576,658.

“Without doubt, our airport has felt the shuddering financial impact of the COVID-19 pandemic.  MGM continues to experience steep declines in revenue from the loss of passengers, as well as devastating drops in parking, concessions and rental car revenue,” said Marshall Taggart, Jr., Executive Airport Director.  “In addition to our careful stewardship of existing resources, the CARES Act grant will help MGM mitigate losses sustained since the outbreak began. We are so thankful to the President, our congressional delegation, the Department of Transportation and the FAA for their leadership in providing relief to MGM and the entire aviation industry.”

MGM will use the additional federal funds to continue safe aeronautical and non-aeronautical operations; maintain heightened safety and sanitation procedures to prevent the spread of COVID-19; and retain jobs to protect its workforce and the vital services provided to the River Region.

“We remain vigilant in our efforts to maintain excellent service at MGM, even in these trying, unprecedented times.  MGM has served this region for generations.  We’ve weathered other challenges and storms, and we plan to be here for generations to come.  You can count on MGM to be actively engaged in the recovery of our community and our industry,” Taggart said.

***All Meetings held in the Board of Director’s Conference Room 2nd Floor **

May 2020 Meeting Summary

 

Finance & Administration Committee Meeting 5/20/20 at 11:00 AM

Topic: Finance & Administration Committee Meeting

Time: May 20, 2020 11:00 AM Central Time (US and Canada)

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Meeting ID: 833 982 0906

Note:  All meetings via Zoom Conference.