Cafaro Foundation donates $100K to help bring daily air service to Youngstown airport

YOUNGSTOWN

The Cafaro Foundation, part of the Cafaro Corp., has announced that it has pledged $100,000 to help secure the money needed to re-start daily air service at the Youngstown-Warren Regional Airport.

“For any local economy to flourish, a rapid transportation link to the rest of the world is a vital necessity,” the foundation said in a press release.

“We hope that this $100,000 gift from our family and our charitable foundation will

serve as a catalyst for other contributions,” said William A. Cafaro, co-president of the

Cafaro Corp, which owns the Eastwood Mall Complex in Niles and is one of America’s largest

privately-held real estate development firms.

“The many companies in our area collectively spend hundreds of thousands of dollars in airfare annually. The need is there. Why not make the service more convenient than having to drive to flights originating in Cleveland, Akron or Pittsburgh?” he said.

Airport officials are trying to raise about $450,000 to add to the $1.2 million already available to provide United Airlines with a revenue guarantee.

A guarantee is used by airlines during the start-up phase of a new route to ensure them profitability until it can sustain itself.