Business

Logan air traffic takes nosedive in Massport's 'worst-case' scenario


Layoffs are landing at Massport — where the average employee salary tops six figures — as the agency seeks to bridge a $400 million budget gap over the next three years as a “worst-case” scenario plays out and air travel continues to take a nosedive amid the coronavirus pandemic.


“It’s never a good thing to come in below your worst-case scenario and that’s where we find ourselves,” Massport board member John Nucci said during a Thursday meeting.


It’s a “troubling” picture spurred by plummeting air travel numbers that Massport CEO Lisa Wieland said have come in below even worst-case expectations since August.


While Massport executives tried to hold onto hope that air travel is slowly “recovering,” Wieland said history shows it will take a minimum of three to five years for things to rebound.


Massport is also pursuing other avenues to generate revenue, including real estate sales, which have been a lucrative venture for the agency over the past decade, accounting for about 6% of its annual budget.


Massport — a quasi-public agency — has seen a modest 7% growth in the number of employees over the past five years — but a 21.4% jump in gross pay, records show.






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