Denver International Airport could receive about $269 million through the Coronavirus Aid, Relief and Economic Security Act stimulus package, airport officials announced Tuesday. 

The CARES Act, signed into law by President Donald Trump on March 27, allocates $10 billion in grants for airports experiencing significant economic hardship amid the COVID-19 pandemic. DIA estimates TSA passenger traffic has plummeted by 95% compared to this time last year.

“DEN is grateful for this stimulus package and wants to acknowledge the support of Colorado’s congressional delegation,” CEO Kim Day, who’s overseen the airport since 2008, said in a statement Tuesday. “The funds will go a long way to helping us meet our financial obligations, support our bond ratings and save jobs.”

“Denver International Airport is one of Denver’s and Colorado’s primary economic engines and will be key to our city’s economic recovery efforts,” Denver Mayor Michael Hancock said in a statement. “This funding for the airport will help us protect peoples’ jobs, and I want to thank our congressional representatives for supporting the stimulus package and providing the financial tools to support DEN through this crisis.”

There is no deadline by which the grant money must be spent, DIA officials said in the Tuesday news release.

Despite grant opportunities, the airport has put “significant cost-cutting measures” in place, including instituting a hiring freeze and identifying ways to scale back the $3.5 billion capital projects program.

Meanwhile, the airport also has allowed airlines that are feeling the strain of the COVID-19 outbreak to delay rent and landing fee payments by three months, worth approximately $60 million, The Denver Post reported.