Toronto Pearson Airport reports strong Q3 passenger growth
Greater Toronto Airports Authority (GTAA) has reported “exceptional” passenger growth for the three- and nine-month periods ending September 30, 2016.
Passenger traffic climbed 10.3% during the third quarter of 2016 when compared to 2015. This has been the strongest percentage increase since 2005, reflecting the increased capacity of aircraft and new routes, the economic strength of the Greater Toronto Region, and the role of Toronto Pearson Airport as Canada’s largest airport and North America’s second-busiest airport in terms of international passengers.
“Toronto Pearson’s continued strength as a connecting airport with global reach to a large portion of the world’s economic centres facilitates more opportunities for trade and tourism in our region and the rest of Canada,” said Howard Eng, President and CEO.
"Future investments in the growth of this airport – transit connections, improvements to security screening and to Customs and immigration processes – will enable Toronto Pearson to thrive as the anchor of one of Canada's most significant employment centres.”
Toronto Pearson welcomed a total of 13.0 million passengers during the three-month period.
During Q3, international passengers increased by 842,000, reflecting 12% growth. The passenger volume growth during Q3 was “exceptional”, GTAA said, and has not been experienced since 2004, which coincided with the opening of the first phase of Terminal 1 in that year.
Q3 was also the second highest quarterly growth in terms of total number of passengers and international passengers, second only to the second quarter of 2004.
A total of 33.8 million passengers traveled through the airport in the first nine months, representing a year-on-year increase of 7.6%.
For the three- and nine-month periods, GTAA reported total revenues of C$351.1 million and C$969.3 million, representing increases of C$25.8 million and C$66.6 million from the same periods in 2015, respectively.
The continued growth in revenues was a reflection of strong Q3 passenger growth and increases in non-aeronautical revenues.
During the third quarter and first nine months of 2016, GTAA’s non-aeronautical revenues rose C$9.6 million and C$20.5 million compared to the same period last year, respectively.
The increases in both periods were due to the high passenger growth during 2016, the opening of 25 new retail stores, restaurant, and beverage establishments in the last 12 months and increases in parking and ground transportation revenues.