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| May. 12 / 04 |
Traffic, revenue up for Gander International Airport in 2003 |
The Gander International Airport Authority (GIAA) provided an overview of its 2003 financial performance at its Annual General Meeting at Hotel Gander's Salon B, Tuesday, May 11.
Gary Vey, President and CEO of the GIAA, said 2003 represented a financial turning point for YQX and is projecting further growth in 2004.
"Gander has been doing business with the world for 60 years, but the nature of the business has changed radically," Mr. Vey said. "2003 was a transitive year for Gander International Airport. The aviation industry began to emerge from the shell of 9-11 and take tentative exploratory steps toward rejuvenation. We believe 2003 represented a major step toward a sustainable, prosperous YQX."
Gander International Airport operates on an annual budget of $6 million. IN 2003, YQX generated a positive cash flow from operations for the first time in its history. Capital expenditures for the year totaled $2.7 million.
The airport also recorded an overall growth of 12.5% in landings over 2002. Gander International Airport enplaned and deplaned 84,524 domestic passengers and transited 145,000 international passengers in 2003, and is forecasting growth for 2004. In addition:
- Cargo movements grew 20% over 2002 levels
- International movements grew by 38%
- Military movements grew by 21%
- Domestic movements grew by 16%
Mr. Vey told delegates that 2003 had successes to celebrate. WestJet began scheduled jet service and will now serve Halifax direct six times per week effective July. A deal was brokered with Cubana to offer sun travel direct to Cuba-the first international passenger traffic at YQX since 1984. Gander's share of the Corporate Jet market transiting the Atlantic continued to grow. Gander International Airport's commitment to customer service was reflected in the 2003 Customer Satisfaction and Benchmarking Program. YQX placed first among six Level II airports across Canada handling 500,000 passengers or less.
Airport employees and management endured the longest strike in Canadian aviation istory, with workers on the picket lines for 115 days, Mr. Vey said.
"Management and employees are now pulling toward our shared vision of a progressive, prosperous YQX," he said. "Gander International Airport is reinventing itself as an entrepreneurial airport, which contributes to business growth, citizenship and economic development."
The airport authority employs 55 workers (40 full-time equivalents) and contributes $4 million annually to local economies in the form of materials, supplies and services. Direct aviation-related activity in the region accounts for 330 jobs.
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 Town of Gander and the Central Newfoundland region.
For further information, please contact:
Gary Vey, President and CEO
(709) 256-6668
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