深度-兰德-美国机场基础设施融资（英文）-2021.6-15页_666kb

Summary of the 2020 RAND Report on Funding and Financing Infrastructure at U.S. Airports

Core Content

The 2020 RAND report, presented as testimony by Benjamin M. Miller before the U.S. Senate Committee on June 23, 2021, focuses on the funding and financing challenges faced by U.S. airports, especially in light of the coronavirus pandemic. It provides an overview of current infrastructure needs, funding mechanisms, and policy recommendations to ensure sustainable and equitable investment in airport infrastructure.

Key Findings

• Airport Infrastructure Overview:
  The U.S. has over 19,000 landing areas, with 5,099 being public-use airports. The National Plan of Integrated Airport Systems (NPIAS) identifies priorities for federal funding, and only airports included in the NPIAS can receive federal grants.

• Airport Ownership and Service Types:

  • Most commercial service airports are publicly owned.
  • Large, medium, and small-hub airports serve 96% of commercial passenger traffic.
  • General aviation (GA) airports are not eligible for PFCs and rely more on AIP grants.

• Funding Sources:

  • Passenger Facility Charges (PFCs): A user fee collected from passengers, capped at $4.50 per flight segment. Most airports collect the maximum amount.
  • Airport Improvement Program (AIP): A federal grant program funded by the Airport and Airway Trust Fund (AATF). AIP funds are distributed based on apportionment formulas and are crucial for smaller airports.

• Impact of the Pandemic:

  • The pandemic caused an unprecedented drop in passenger travel, with a 95% decline in April 2020 compared to 2019.
  • Cargo demand surged during the pandemic, but this did not offset the revenue losses from passenger declines.
  • Smaller airports, which rely more on federal funding, faced greater financial strain due to reduced revenue and delayed infrastructure projects.

• Infrastructure Needs:

  • Airside infrastructure (runways, taxiways, etc.) is generally well-maintained due to federal funding.
  • Landside infrastructure (terminals, parking, etc.) is in greater need of modernization, particularly for smaller airports.
  • Twenty airports accounted for 96% of delays in the National Airspace System in 2018, indicating a concentration of infrastructure-related bottlenecks.

Main Recommendations

1. Increase and Index the PFC Cap

   • Raise the PFC cap from $4.50 to approximately $7.50 for origin passengers.
   • Index the cap to inflation (e.g., using the Producer Price Index for construction materials).
   • Limit PFC increases to origin passengers only to avoid impacting layover passengers.
   • Eliminate 100% of AIP primary entitlements for airports collecting PFCs above $4.50, to redirect funds to smaller airports.

2. Remove Automatic Doubling of AIP Primary Entitlements

   • Under current law, when the AIP appropriation reaches $3.2 billion, primary entitlements per passenger double.
   • This creates misalignment between funding and actual needs.
   • Removing this automatic doubling would allow more flexible and need-based allocation of AIP funds.

3. Eliminate Nonprimary Entitlements

   • Nonprimary airports currently receive a fixed entitlement of up to $150,000 per year, which is insufficient for major projects.
   • Redirecting these funds to state apportionments would better meet the needs of nonprimary airports and provide more oversight.

4. Establish a Rainy Day Reserve for the AATF

   • A rainy day reserve would act as a backstop for the AATF during periods of low revenue.
   • The report suggests a reserve of $4 billion to $6 billion to ensure stability during revenue shortfalls.
   • This reserve would help maintain funding for FAA programs and activities, even during economic downturns.

Key Impacts of the Pandemic on Airport Funding

• Revenue Decline:

  • Airports lost an estimated $23.3 billion in revenue due to the pandemic.
  • Many smaller airports lost nearly all commercial passenger service, leading to significant financial stress.

• Debt Service Challenges:

  • Airports face $16.6 billion in debt service payments over the next two years.
  • Reduced PFC revenues and other income streams may delay infrastructure financing and debt repayment.

• Uneven Recovery:

  • Passenger traffic is recovering slowly, while cargo operations have rebounded more quickly.
  • Smaller airports with a higher proportion of cargo flights have returned to prepandemic levels faster than larger airports.

Conclusion

The report emphasizes the need for policy reforms to address the long-term funding and financing challenges at U.S. airports. These reforms include adjusting the PFC cap, modifying AIP entitlements, and establishing a rainy day reserve for the AATF. The recommendations aim to ensure that airports can meet growing infrastructure demands, maintain financial stability, and support the broader aviation system, especially in times of crisis. The pandemic has underscored the importance of these changes, as many airports face delayed projects and increased debt due to reduced revenue.