Contact: Cassandra Bosco
Washington, DC, October 4, 2001 – Today, the National Business Aviation Association (NBAA) announced its full support for a bill introduced by Representative Bill Shuster (R-PA) that will provide economic relief to general aviation small businesses. The measure, titled the General Aviation Small Business Relief Act of 2001, will authorize the Small Business Administration to provide grants to small aviation businesses that have incurred losses directly related to the Federal ground stop after the September 11 terrorist attacks.
For some NBAA Member Companies in the service sector, economic damage related to the September 11 attacks and subsequent shutdown of air service has been significant and nonrecoverable,” said NBAA President Jack Olcott. “For example, losses at some Fixed Base Operators (FBOs) have reached $100,000 per month on fuel sales alone, while smaller management companies are facing possible bankruptcy. These aviation businesses provide important economic benefits to the communities they serve.”
Representative Shuster and the co-sponsors of this bill recognize the important economic role of general aviation in returning America to prosperity” added Olcott. “We appreciate their leadership role in the development of this relief package. This action will provide the necessary funds to keep the doors of America’s small aviation businesses open.
NBAA represents the aviation interests of over 6,800 companies which own or operate general aviation aircraft as an aid to the conduct of their business, or are involved with business aviation. NBAA Member Companies earn annual revenues approaching $5 trillion — a number that is about half the gross domestic product — and employ more than 19 million people worldwide. The NBAA Annual Meeting & Convention is the world’s largest display of civil aviation products and services.