NYC Airports’ 96% Traffic Plunge Threatens Local Financial Pain
- Bridge and tunnel car traffic falls by more than 60%
- Bi-state agency discloses impact from pandemic in bond filing
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Air travel at New York City’s airports almost disappeared in March while traffic on the Port Authority of New York & New Jersey’s bridges and tunnels plummeted after the Covid-19 pandemic prompted travel restrictions.
Average weekday aviation passengers dropped by 96%, and car traffic on the bi-state agency’s four bridges and two tunnels declined more than 60% for the week of March 30 to April 3 compared to the weekday average in March 2019, according to a bond filing. The agency has more than $4 billion in reserves, capital funds and bank credit to buffer it as the respiratory tract illness forced a shutdown of the economy.