Airport Improvement
Program Millions funding
JFK Airport
U.S. Secretary of Transportation
Elaine L. Chao announced
that the DOT will award more than
$1.2 billion in airport safety and
infrastructure grants through the
Federal Aviation Administration
(FAA) to 405 airports in 50 states
and the Federated States of Micronesia,
the Marshall Islands, the
Northern Mariana Islands, Puerto
Rico, Palau, and the U.S. Virgin Islands.
“This $1.2 billion federal investment
will improve our nation’s
airport infrastructure, enhance
safety, and strengthen growth in
local communities, which is especially
important as the economy recovers
AIRPORT V 18 OICE, SEPTEMBER 2020
from COVID-19,” said Chao.
NY John F Kennedy International
JFK funds will be used
for a reconstruct apron, taxiway
rehab,shift or reconfigure existing
taxiway with a $5,728,426 grant.
The grants will be used for a variety
of critical infrastructure and
safety projects. The projects include
purchasing aircraft rescue and fire
fighting equipment, constructing
runways and taxiways, repairing
runways and taxiways, installing
aircraft lighting and signage, conducting
airport master plan studies
and installing airport perimeter
fencing.
Swissport secures funding
Investors secure stake
Swissport has secured hundreds
of millions of euros of financial
backing from creditors, gaining a
vote of confidence in its future.
The Swiss-based airport ground
services firm said a comprehensive
restructuring with lenders included
300 million euros ($353 million)
in interim support and a 500
million euro long-term debt facility
that will replace that initial backing.
Senior secured creditors, including
SVP Global, Apollo Global
Management, TowerBrook Capital
Partners, Ares Management, Barclays
Bank, Cross Ocean Partners
and King Street Capital Management,
will take over as owners.
The deal includes a debt-for-equity
swap worth 1.9 billion in existing
debt, as well as a €500 million
long-term debt facility and
a €300 million interim facility to
help the airport services provider
stay afloat. Under the terms of the
agreement, Swissport will launch a
customary M&A process in parallel
with other restructuring steps,
with the financial restructuring expected
to be completed
“With much lower debt and €500m
additional cash injected, we will
be well positioned going forward
to invest into the business and accelerate
growth,” said Peter Waller
Swissport’s CFO. According to one
source there does not appear to be
any change in operations at JFK
Airport although under distressed
funding there is always the chance
that the investor try to take control
and restructuring can occur.
FAA Workforce
grants Maintenance
& Pilots
The Federal Aviation Administration
(FAA) announced two grant
programs; one for Aviation Maintenance
Technical Workforce Development
Grant Program to increase
interest and recruit students for
careers in aviation maintenance
and the other is for Aircraft Pilots
Workforce Development that will
expand the pilot workforce and will
help high school students receive
training to become aerospace engineers
or unmanned aircraft systems
operators. The program also
prepares teachers to train students
for jobs in the aviation industry.
The overarching goal is to provide
grants to academia and the aviation
community to help prepare a
more inclusive talent pool of aviation
maintenance technicians and
pilots for the next generation of aviation
professionals.
Eligible groups may apply for
grants from $25,000 to $500,000 for
any one grant in any one fiscal year.
Congress appropriated $5 million
in Fiscal Year 2020 to fund
projects to address the projected
shortages of aviation maintenance
technical workers in the aviation
industry. Congress approved the
program through the end of fiscal
year 2023.
Potential applicants may visit
the website for more information.
https://www.faa.gov/about/office_
org/headquarters_offices/
ang/grants/awd/ Aviation Workforce
Development Grants
Aviation Maintenance Technical
Workers
Objectives
The aviation workforce development
grants for aviation maintenance
technical workers and aircraft
pilots support proposals that
generate and increase interest and
prepare students to pursue aviation
careers.
Essential workers child care
Scholarships available for workers
$88.6 million in federal CARES
Act funding is available to assist
child care providers through NY
Forward grants as they adjust their
programs amidst the COVID-19
pandemic.
The $88.6 million in grant funds
will be used as follows:
Twenty million will support
child care scholarships for children
of essential workers. Essential
workers include first responders
such as health care providers, pharmaceutical
staff, law enforcement,
firefighters, food delivery workers,
grocery store employees and others
who are needed to respond to the
COVID-19 pandemic.
Child care costs will be covered
for families of essential workers
whose income is less than 300 percent
of the federal poverty level–or
$78,600 for a family of four–and will
be paid up to market rate for each
region statewide.
Child care providers may apply
for the funding at https://ocfs.
ny.gov/programs/childcare/.
Applications will be posted later
this month and will be accepted on
a rolling basis until December 31,
2020.
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