$23 million federal grant gives Sarasota Bradenton airport staying power during pandemic
A huge body blow, like the one COVID-19 unloaded on Sarasota Bradenton International Airport in April when passenger traffic was down 95 percent from the same month a year earlier, would devastate any budget.
Yet, SRQ will survive and slowly begin regaining traction, thanks to a healthy budget reserve and the lack of debt. And one more thing: a $23 million grant from the Federal Aviation Administration.
Monday, the Sarasota Manatee Airport Authority accepted the grant, awarded under the Coronavirus Aid, Relief and Economic Security, or CARES, Act.
It was precisely because SRQ was in such good financial shape prior to the pandemic that it received more money under the CARES Act than many neighboring airports. The FAA requires that the money be spent over the next four years.
The airport may use the funds for any purpose that airport revenues may be lawfully spent, according to the grant agreement.
Considering that the airport’s annual budget is about $22 million, the FFA grant will go a long way, said Rick Piccolo, the airport’s president and CEO.
For one thing, it relieves stress that employees may be feeling about possible layoffs. One of the provisions of the grant is that it requires SRQ to maintain staffing at least the 90 percent level.
While the airport has placed some projects on hold, it has been able to move ahead with others, including expanding its fuel farm, repaving the long-term and short-term parking lots, remodeling the security screening checkpoint and a milling-and-paving taxiway project.
“It’s a really big deal,” said Mark Stuckey, the airport’s executive vice president.
The motto at SRQ during the pandemic seems to be when passengers are ready to fly again, the airport will be ready for them.
“While we are still a very long way from recovery, the airport has seen a gradual increase in passenger traffic over the last week. As more states open their economy, we are confident that the positive trend will continue. When the passengers are ready, we are ready,” Piccolo said last week.
Prior to the pandemic, SRQ had been one of the fastest growing airports in the country, and officials fear that a full recovery could take several years.
