AIRPORT AUTHORITY ANNOUNCES ANNUAL PERFORMANCE
Decent performance despite trying times
The Gander International Airport Authority (GIAA) outlined 2017 performance at its Annual Public Meeting today.
The airport posted revenue of $9.3 Million and net operating income of $1.3 Million, representing the airport authority’s 13th consecutive year of profit.
“It was a decent year given a trying economic environment,” said GIAA President and CEO Reg Wright.
Passenger performance increased 3% over 2016, behind strong growth in non-resident visitations during the peak tourism season. 2017 was the fourth most prolific year for passenger traffic in the airport’s history.
“Passenger growth is driven by airlines – Air Canada, WestJet, Provincial Airlines and Sunwing serve our region and put attractive pricing throughout the marketplace,” Mr. Wright said. “We extend our thanks to our airline partners, as well as everyone who made Gander Airport part of their travel plans. It is great to see Central Newfoundlanders patronize their local airport, which is operated for their use and benefit.”
In 2017, the airport completed nearly $3 Million in Capital Works, including primary groundside access roads and airside rehabilitation. In the coming years, the GIAA will focus on the $10 restoration of Runway 13/31 as well as working to commence significant terminal enhancements.
The airport’s business park continues to generate new leases and earnings from non-aeronautical revenue– defined as income from sources outside core aviation activities – now comprises 47% of the GIAA’s revenue and is forecast to grow.
“The future holds both challenge and opportunity, and we remain optimistic about our prospects,” said GIAA Chairperson Des Dillon. “We will continue to work hard and work smart to build lasting success for YQX.”
The full digital copy of the GIAA 2017 Annual Report can be viewed here.
About Gander International Airport Authority
The Gander International Airport Authority is the not-for-profit organization created in 1996 to manage operations at Gander International Airport (CYQX). Gander International Airport offers scheduled and charter service from Air Canada, Provincial Airlines, Sunwing Airlines and WestJet. The airport plays a key role in the economic and community development of the Central Newfoundland region. The airport’s economic contribution includes 1,260 full-time jobs, $90 million in wages, $140 million in gross domestic product (GDP) and $240 million in economic impact.
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For further information, please contact:
Reg Wright, President and CEO