Record-breaking year for Gander Airport in 2012
The Gander International Airport Authority (GIAA) released details of its 2011 financial performance at its Annual General Meeting today.
The airport posted its best operating results since accepting transfer of the airport from Transport Canada in 2001, with revenues of $9.3 million and a bottom line of $2 million. This represented the airport authority’s eighth straight year of profit and a 20% improvement over 2010.
“We are generally pleased with 2011 performance given that it was a challenging year for the aviation industry,” said airport authority President and CEO Gary Vey.
Domestic passenger traffic posted 19% growth over 2010. As part of its ongoing air service development program, the airport successfully attracted new service and seat capacity to Labrador, the Caribbean and Toronto. It was the single best year for passenger movements at Gander since 1989.
“We are pleased with the growth in our domestic market,” said Mr. Vey. “Service to Labrador continues to perform beyond expectations, patronage for Caribbean charters was strong and we are very excited about the return of Air Canada’s direct seasonal Embraer 190 service to Toronto this summer. It remains the airport’s primary to goal to convert this seasonal service to year-round to improve connectivity for our customers, particularly those headed to western Canadian and international destinations.”
The Gander International Airport Authority will begin work on a $10 million runway rehabilitation project next month. Runway 03-21 is the airport’s primary runway. At 10,500 feet, it is also the longest civilian airport runway in Atlantic Canada and 10th longest in the nation. The project is cost-shared between the Gander International Airport, province of Newfoundland and Labrador and federal government, with each partner contributing $3.3 million. Under the terms of the project, an associated taxiway, electrical systems, lighting and drainage will also be rehabilitated and modernized.
The contract for the runway rehabilitation was awarded to J-1 Contracting Ltd. of Clarenville after a competitive tendering process. The airport authority expects construction to have nominal impact on domestic scheduled traffic and transiting international aircraft.
“This is the most significant capital works program undertaken at Gander in the last quarter century,” said Gary Vey, GIAA President and CEO. “It will significantly enhance safety and security at the airport, facilitate trade and address our most pressing capital need for years to come.
“We have always focused on a measured approach to growth and financial stewardship with the recognition that the airport authority is the caretaker of a powerful economic engine for the region and province. Working together, we believe our future is a bright one.”
The Gander International Airport Authority is the not-for-profit organization created in 1996 to manage operations at Gander International Airport (CYQX). The airport plays a key role in the economic and community development of the Central Newfoundland region.
For further information, contact:
Gary Vey, President and CEO
Phone: (709) 256-6668