...The coronavirus pandemic represents a significant challenge to the global economy and the U.S. transportation sector. Since mid- March, state and local governments across the U.S. have been issuing orders for residents to self-quarantine for all but essential business and travel in an effort to slow the spread of the virus. These efforts to slow the coronavirus have had the unintended consequence of slowing the economy and resulted in severe stresses in the airport, toll road and port subsectors. For airports and toll roads, the pandemic resulted in air travel and traffic declines well in excess of peak losses during the global financial crisis, past pandemics and terrorist attacks. For ports, the pandemic is having a sizable impact on supply chains, thereby reducing cargo volumes. Government-imposed restrictions on individuals, businesses, and corporations are affecting the broader consumer demand that drives imports and exports. Cruise activity has halted since mid-March, leading to unprecedented...
