Airport construction grants will flow through July 3 under a Federal Aviation Administration extension enacted on April 30. It is the 13th stopgap since September 2007, when the last multiyear FAA bill lapsed. The House and Senate have passed new, differing long-term bills. One difference concerns passenger facility charges (PFCs): The House hikes the PFC cap to $7 from $4.50. The Senate keeps the $4.50 cap, except at six airports, which would have no limit.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.