The Greater Orlando Aviation Authority Approves Pared Down Budget for the 2021 Fiscal Year
The Orlando International Airport already reduced its budget by 18.4 million dollars midway through the current fiscal year.
The airport’s 2021 fiscal budget is 217,000 dollars less than the previous year’s, coming in at roughly 4.1 million dollars.
In a statement, GOAA Board Chairman Carson Good said these changes reflect current challenges in the travel industry including lagging passenger traffic.
The airport expects to lose 150 million dollars in revenue from fewer airlines fees and deferred rent from tenants including concessions.
Midway through the current fiscal year, a hiring freeze was instituted and non-essential projects were put on hold.
But even with these losses, the airport will spend an additional 1.2 million dollars in janitorial services in accordance with new coronavirus-related health protocol.
Transportation experts expect it will take until 2023 for airline travel to bounce back to pre-pandemic levels.
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