(Cleveland) – Cleveland Hopkins International Airport took a big hit during the pandemic, so the city will move some federal relief money into the airport’s budget.
Mayor Frank Jackson says the city will provide $46 million from the city’s CARES Act money to help offset the airport’s losses due to cuts in flights arriving, and passengers at the terminal.
According to the city, Hopkins Airport is self-supporting:
The Cleveland Airport System is an enterprise fund of the City of Cleveland, meaning that it is a self-sustaining operation. As such, all revenues earned by the airport must be spent solely for airport purposes. No local tax dollars are used to fund any projects or operations at the airport. The airport is funded by non-aviation related revenues (i.e., concessions and parking), aviation revenues (i.e., rents and landing fees), and federal grants. The airport has an annual operating budget of approximately $129 million..
Hopkins Airport lost millions of dollars in April alone, as there was a 96 percent drop that month in the number of passengers coming into and leaving the airport.
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