Airport Development Needs: Estimating Future Costs
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1997-04-01
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TRIS Online Accession Number:00746650
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NTL Classification:NTL-AVIATION-AVIATION;NTL-AVIATION-Airports and Facilities;NTL-AVIATION-Aviation Economics and Finance;
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Abstract:As part of the FAA Reauthorization Act of 1996 (P.L. 104-264, section 274(e)),
the Congress directed the General Accounting Office (GAO) to provide an
independent assessment of airport development needs to it and to the National
Civil Aviation Review Commission. While no one disputes that upholding the
integrity of the nation's airport system requires continual capital investment,
from repairing runways to constructing new terminals, the estimates of how much
this is likely to cost have varied widely. The main reason for the differences
in the airports', the airlines', and FAA's estimates of airport capital needs is
that they are based on widely divergent views about which types of development
projects and airports to include in their estimates. Using the most current and
complete data-compiled from FAA, airports, state aviation agencies, and private
sources-the GAO developed four estimates ranging from $1.4 billion to
$10.1 billion annually for the 5-year period from 1997 through 2001, depending
on how needs are defined. The GAO believes that providing a range of estimates
for future airport capital needs is more useful than a single estimate because
it provides various perspectives for policymakers to consider. 42p.
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