The top 10 U.S. commercial airports will receive almost $2.4 billion in pandemic relief funds based on a formula set by Congress earlier this year.
The Federal Aviation Administration on Tuesday announced it is providing $7.4 billion to scores of airports as well as the restaurants, shops and other businesses that have suffered as the coronavirus severely cut air travel, starting in early 2020. Another roughly $600 million will be disbursed to airports through existing grant programs, the agency said.
The funds are part of President Joe Biden’s $1.9 trillion Covid-19 relief package. Passage of the legislation in March helped prompt a rally in airport municipal bonds.

The largest grants were based on passengers, and Atlanta’s Hartsfield-Jackson International, the busiest U.S. hub, will get the most of any airport, about $370 million, according to FAA data.
After falling 96% of pre-pandemic levels in April 2020, air travel has gradually ramped up. In recent days, airline passenger numbers are about 27% below the equivalent period before the virus hit, according to Transportation Security Administration data.