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This represented the airport authority s sixth straight year of profit.</p> <p>"Our performance was a significant achievement given that 2009 was a challenging time for the aviation industry," said airport authority President and CEO Gary Vey. "Despite this, 2009 held many successes as well. Passenger traffic was down -4% but this was significantly better than the Atlantic Canadian airport average. We welcomed new customers and grew our share of our traditional market. We also took strides toward helping create a more vibrant tourism industry in Central Newfoundland."</p> <p>Cost control remains central to the airport authority s strategic direction, Mr. Vey added, noting that the airport made "tough but necessary" decisions to restructure its workforce and shave over $1 million from the airport s operating cost.</p> <p>Mr. Vey said that generating the cash from revenues to address pending capital works requirements remains a challenge, but progress is being made.</p> <p>"Back in 1996, we made a decision as a community to take operating ownership of our airport and try and shape a sustainable future for Gander International Airport," he said. Critics and economic analysts said it couldn t be done, that the airport needed to be downsized to a small regional facility. Well, we are still here  a full service, 24/7 international operation. We are into our sixth year of profit. We have no debt. We have some money in the bank for emergency contingencies. We have great promise going forward and room to grow.</p> <p>"Establishing a sustainable airport for the benefit of the Central Newfoundland community remains at the heart of what we do, despite economic conditions beyond our grasp. We cannot direct the wind, but we can adjust the sails."</p> <p>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.</p> <p><b>For further information, please contact:<br /><br /> Gary Vey, President and CEO<br /> Gander International Airport Authority<br /> (709) 256-6668 </b></p> </FONT></TD> </TR> </TABLE> <BR> <CENTER><TABLE Border=0 Cellpadding=0 Cellspacing=0> <TR> <TD><FONT SIZE="1" COLOR="#FFFFFF" Face="verdana"><A HREF="press.htm"><B><U>BACK TO PRESS RELEASES</U></B></FONT></A><BR><BR></TD> </TR> </TABLE></CENTER> </TD> </TR> </TABLE> </TD> <TD><IMG SRC="_images2/rightstrip.gif" WIDTH="63" HEIGHT="27" BORDER="0" ALT=""></TD> </TR> </TABLE> </TD> </TR> <TR> <TD><IMG SRC="_images2/bottom.jpg" WIDTH="770" HEIGHT="18" BORDER="0" ALT=""></TD> </TR> <TR> <TD> <!-- BELOW ARE THE COPYRIGHT DETAILS --> <BR> <TABLE Border=0 Cellpadding=0 Cellspacing=0> <TR> <TD> <TABLE Border=0 Cellpadding=0 Cellspacing=0> <TR> <TD width=170 valign=top> <FONT SIZE="1" COLOR="#637BB4" Face="verdana"> <B>BROWSER REQUIREMENT:<BR> RESOLUTION REQUIREMENT: </B> </FONT> </TD> <TD> <FONT SIZE="1" COLOR="#808080" Face="verdana"> <A HREF="http://www.microsoft.com" Target="_Blank">Internet Explorer 5.0x</A> or <A HREF="http://channels.netscape.com/ns/browsers/download.jsp" Target="_Blank">Netscape Navigator 6.2x</A><BR> At least 800x600 / Preferably 1024 x 768<BR> </FONT> </TD> </TR> </TABLE> </TD> </TR> <TR> <TD><FONT SIZE="1" COLOR="#637BB4" Face="verdana">&copy;2005 Gander International Airport Authority Inc. 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