The Future of Aviation Looks Bright in Miami
One of the industries that have been greatly affected by the pandemic is the aviation industry, and this is mainly due to the decision of most countries to limit air travel and close their borders. Thankfully, things are finally looking up for the industry with the number of countries able to flatten the curve increasing by the day. The future looks even brighter for aviation businesses in Miami and here are some of the reasons why:
The existence of a federal stimulus package aimed at reviving the aviation industry
In order to help rebuild the airline industry, the federal government decided to include airports in their federal stimulus initiatives. Collectively, Florida airports are set to get nearly $900 million in federal stimulus money. Businesses within the Aviation industry are not the only ones who are expecting monetary assistance from the federal government. A great number of Florida counties are also allocating funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act to small businesses that have been economically impacted by the pandemic.
ZenBusiness explains that Florida is one of the very few states with no state income tax for individuals, so LLC owners and corporation owners are not required to pay taxes on their business income. But good tax rates aren’t the only reason why business is booming in the state: Florida was also rated the fifth in the nation for the best states to start a business in, with a rebounding economy that is expected to continue to improve. Florida’s excellent infrastructure – with its airports, shipping ports, highways, and railways – is just part of the reason why. It also has the third-largest workforce in the nation as well, encouraging business owners to set up shop here. And now, aviation companies are likely to see increased support with the development of new aviation centers in Miami.
The development of new aviation support centers
The recently-acquired property near the Miami-Opa Locka Executive Airport will be developed into a new aviation center that has 350,000 square feet of hangars, an 80- to 100- room hotel, and office space that will support the aviation business there. The center will serve as a maintenance, repair, and overhaul center for jets, much like Skybridge’s facility in Mesa, Arizona. New owners KOPF Acquisitions hope that the new center will not only support the industry’s aspirations to continue moving forward through flexible and efficient solutions, but also encourage more traffic by helping passengers regain their confidence in airlines.
The resumption of flights by different airlines at MIA
Aside from providing funds and establishing a new aviation support center, MIA’s decision to welcome back eight airlines and a flurry of international flights a few months ago, is also making it easier for businesses within the aviation industry to see a promising future in Florida. Some of these airlines include Mexico-based Volaris that began serving Guadalajara, Spain-based Air Europa that resumed a weekly service from Madrid, and Swiss International Lines that has two weekly flights from Zurich. British Airways, Caribbean Airlines, Eastern Airlines, Lufthansa and TAP Air Portugal also resumed flights to and from MIA last July. This October, three more airlines have also resumed flights to and from MIA: Air France, Colombian carrier Avianca and Viva Air. The administrators of MIA, along with Florida’s state officials, are hoping that the resumption of flights carried out by these airlines will signify the potential returning demand for international travel.
Although aviation is one of those fields that have been hit the hardest by the pandemic, through the continuous flow of federal stimulus package, the development of new aviation support centers and the resumption of flights by different airlines at Florida airports, this sector may be the very industry that will kick-start the recovery of the sunshine state.