American airports receive cash injection

American airports have been granted a US $14.2 billion cash injection for improvement and expansion projects.

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By  Eudore Chand Published  December 1, 2003

American airports have been granted a US $14.2 billion cash injection for improvement and expansion projects. The US Senate has passed a four-year, US $60 billion aviation bill that allocates around one-quarter of the money to federal airport upgrades. When President Bush signs the paperwork, the Federal Aviation Administration will resume approving new Airport Improvement Program grants. The bill authorises US $3.4 billion for AIP in fiscal 2004, then boosts that amount by US $100 million a year, topping out at US $ 3.7 billion in fiscal 2007. The 2003 AIP appropriation is US $3.38 billion. In addition, the measure establishes a separate fund to finance security-related airport projects. That fund, authorised at US $500 million is passed on to airline passengers in the form of security fees that are added to ticket prices. The new bill, titled “Vision 100 – Century of Aviation Reauthorisation Act,” also contains provisions aimed to accelerate environmental reviews of runways and other airport capacity-increasing projects.

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