This is the sixth consecutive year that fees have been reduced or held steady at Toronto Pearson. The projected average decrease to aeronautical charges for airlines will be roughly 10 per cent.
The new rates and charges structure is set on an asset-recovery basis and is reflective of the structure at other international airports. This new structure will allow airlines to budget more accurately, based on the airport assets that they use. Toronto Pearson is a business that must be run efficiently to support the regional and national economy. It is the intention of the GTAA to hold these new rates steady for a period of three years to allow the airlines to budget accurately for an extended period of time.
Key to the new structure is successful cost containment during 2012 and a projected increase in passenger traffic in 2013. Comparing year over year traffic to the end of September, Toronto Pearson has seen a 4.1% increase in terms of passenger volume. The GTAA is committed to continued work with the airlines to ensure the competitiveness of Toronto Pearson.
Howard Eng, President and CEO of the GTAA stated "We are pleased to offer a structure that will result in a decrease to our airline partners. This decision supports our business focus to support our communities with increased access to all points on the globe."
"The continued reduction in costs to airlines at Toronto's Pearson International is good news. It will improve Toronto's competitiveness for business and tourism and enable aviation to play an even bigger role in driving economic growth," said Tony Tyler, International Air Transport Association Director General and CEO.
The GTAA is the corporation without share capital that operates Toronto Pearson International Airport. All revenue generated by the GTAA is reinvested back into the airport. In 2011, 33.4 million passengers travelled through Toronto Pearson.