AAAE says FAA shutdown costs USD300m and counting

American Association of Airport Executives estimated (02-Aug-2011) revenue targetted for aviation system improvements lost in the wake of the ongoing shutdown of the Federal Aviation Administration and the expiration of the agency's authority to collect aviation excise taxes has surpassed USD300 million. AAAE renewed its call for Congress to take some action prior to the scheduled August recess, given the growing cost of the impasse in terms of lost revenue for aviation system upgrades and with many current airport construction projects on hold. AAAE has called on Congress to quickly pass a multi-year FAA reauthorisation bill or a short-term extension that includes a USD3.515 billion Airport Improvement Programme (AIP) authority. [more]