The largest airport in Canada expects to serve over 166,000 passengers on August 24

TORONTO, Aug. 14, 2018 /CNW/ – The busiest day of the year at Toronto Pearson is just around the corner, with Canada’s largest airport preparing for an estimated 166,900 passengers on Friday, August 24, 2018. This new record represents a continuation of what has already proven to be a busy first half at Toronto Pearson, which saw a passenger traffic increase of 6.0 per cent over the same period in 2017. Throughout summer, the airport has been welcoming an average of 155,000 passengers per day. Toronto Pearson expects to welcome some 10.4 million passengers between the end of the school year and labour day weekend.

“Throughout the year, we work in collaboration with our airline and agency partners to ensure that Toronto Pearson is ready to receive travellers from across Canada and around the world,” said Scott Collier, Vice President, Customer and Terminal Services, Greater Toronto Airports Authority. “We encourage our passengers to plan ahead and think of the airport as the start of their vacation. More than 200 unique shops, and restaurants to suit all tastes are open; we have great live music in our terminals, and our Toronto Pearson team is working hard to provide a safe start to your summer travels.”

These tips will help travellers to speed through the terminals:

• Check-in for your flight before leaving home.
• Don’t waste time circling the parking lot; reserve online for the best prices and a guaranteed spot in the garage.
• If you are picking up someone at the airport, park for free at one of our Cell Phone Lots, a convenient short-term parking area available to you while you wait for your passenger to arrive.
• Prepare for security screening by having your documents in hand and preparing your carry-on items to be inspected.
• If travelling internationally through Terminal 3, download CBSA’s eDeclaration app.
• The app allows you to create a scannable customs declaration, cutting your time at a kiosk by up to 50%.
• Always pack essential items like valuables and medications in your carry-on luggage.

Passengers arriving between now and the end of the year will also enjoy the sounds of Canadian culture with the return of YYZ Live, Toronto Pearson’s signature entertainment program. Produced in partnership with the City of Toronto, YYZ Live features a summer full of musical entertainment, with 75 performances from a curated list of local artists. YYZ Live performances are free and take place in different locations around the airport at 6 p.m. and 7 p.m. on Tuesdays, Fridays and Saturdays. For a full schedule of YYZ Live musicians and where they will be playing, visit the YYZ Live site.

For information on airport operations, travellers are encouraged to follow @torontopearson on Twitter.

To learn more about how Canada’s busiest airport operates during the summer months, check out TorontoPearson.com’s Summer Operations blog.

The Greater Toronto Airports Authority (“GTAA”) today reported its financial and operating results for the three- and six-month periods ended June 30, 2018. Passenger activity increased substantially at 6.0 per cent during the first half of 2018 as compared to the same period of 2017. This growth reflects increased aircraft load factor, flights on existing routes and larger aircraft, the economic strength of the Greater Toronto Region, and the role of Toronto Pearson International Airport as Canada’s largest airport and North America’s second busiest airport in terms of international passengers.
During the three-month period ended June 30, 2018, 12.4 million passengers travelled through Toronto Pearson, representing an increase of approximately 670,000 passengers or 5.7 per cent, as compared to the same period in 2017. During the six-month period ended June 30, 2018, a total of 23.7 million passengers travelled through the Airport, representing an increase of 1.3 million passengers. Passenger activity in the international sector increased by 1.1 million passengers reflecting 7.5 per cent growth and the domestic sector increased by 267,000 passengers reflecting 3.3 per cent growth, over the same period in 2017.

“As we move through the peak summer travel season, Toronto Pearson continues to see strong passenger traffic growth, with an increase of 6 per cent over the first half of 2017. The growth of our roster of international routes and new carriers illustrates the ongoing demand for international travel in the region,” said Howard Eng, President and CEO of the GTAA. “The GTAA remains focused on driving service innovations and facilitating process improvements, including investments in the government agencies responsible for customs and security screening to improve the passenger flow and experience through Toronto Pearson. In addition, we continue to make enhanced access to public transit a priority, including our vision to build a regional transit and passenger centre, and to work with Metrolinx to explore potential transit links to better move people and cargo to, from and around the airport and the Greater Toronto and Hamilton Area.”

The GTAA recorded net income of $37.2 million for the second quarter and $20.4 million for the first half of 2018, compared to $35.0 million and $42.7 million in the comparable 2017 periods, respectively. Net income was negatively impacted in the first quarter of 2018 by the early retirement of debt charge of $28.7 million from the early redemption of Series 2009-1 Medium Term Notes. As at June 30, 2018, the GTAA has reduced its gross debt per enplaned passenger and net debt per enplaned passenger by 5.4 per cent and 4.4 per cent to $260 and $242 when compared to the same period in 2017, respectively.

For the three- and six-month periods ended June 30, 2018, the GTAA reported total revenues of $359.1 million and $707.6 million, representing increases of $14.3 million and $38.7 million from the same periods in 2017, respectively. The continued growth in revenues was a reflection of strong passenger growth and increases in commercial revenues from the opening of 29 new retail stores, restaurant, and beverage establishments over the prior 12 months as well as the rental revenues generated by the Airway Centre Inc.

Total expenses reported during the three- and six-month periods ended June 30, 2018 for the GTAA were $321.8 million and $687.2 million, representing increases of $12.0 million and $61.0 million from the same periods in 2017, respectively. The Corporation has been increasing investments to support improved passenger and baggage flow in recent years. During the first half of 2018 as compared to the same period of 2017, the GTAA incurred higher expenditures related to increased snow removal costs, the inclusion of the Airway Centre Inc.’s costs, and the continued investments in corporate-wide initiatives in support of the GTAA’s vision to be the best airport in the world. Ground rent and payments-in-lieu of real property taxes expenses have increased $4.0 million. The total increase of these mentioned items was $23.2 million in the first half of 2018 as compared to the same period in 2017.

During the first half of 2018, the GTAA incurred operating costs to enhance services and improve passenger flow through investments in government agencies of $17.7 million, an increase of $1.6 million or 9.9 per cent over the same period in 2017. These included direct and indirect investments to the Canadian Air Transport Security Authority (“CATSA”), U.S. Customs and Border Protection (“USCBP”) and Canada Border Services Agency (“CBSA”).

Earnings before interest and financing costs and amortization (“EBITDA”) during the three- and six-month periods ended June 30, 2018 were $180.1 million and $337.2 million, representing decreases of 1.1 per cent and 0.1 per cent from the same periods in 2017, respectively. Earnings before interest and financing costs during the three- and six-month periods ended June 30, 2018 were $112.2 million and $201.0 million, representing decreases of 4.5 per cent and 3.4 per cent from the same periods in 2017, respectively.

The GTAA’s June 30, 2018 financial results are discussed in more detail in the GTAA’s Condensed Interim Consolidated Financial Statements and Management’s Discussion and Analysis, each for the three- and six- months ended June 30, 2018, which are available at www.torontopearson.com and on the Canadian Securities Administrators’ website at www.sedar.com.