CONTINUED GROWTH IN Q2 FOR THE OTTAWA AIRPORT AUTHORITY

Release date: 
22 August 2006 :00am
August 22, 2006 (Ottawa) – The Ottawa International Airport Authority today released its results for Q2 2006.

Continued growth in passenger volumes, with a particularly healthy international sector, resulted in a total of 1,931,725 passenger movements through the airport in the first six months, compared to 1,886,940 for the same period in 2005. The numbers break down as follows: domestic increased by 1%, transborder was up by 2.2%, and international saw the biggest increase at 16.7%.

“The industry continues to show gains in passenger volumes, which reflects well in our results” said Paul Benoit, Airport Authority President and CEO.

Financial results for the first half of the 2006 were comparable to those of 2005 at $5.2 million in earnings before depreciation.

Revenues

The Authority generated $38.1 million in revenues in the first six months of 2006 as compared to $36.3 million in the same period in 2005. Increased passenger traffic resulted in a 2.9% increase in airport improvement fees (AIFs) for the period for a total of $12.6 million. Aeronautical revenues including terminal fees, loading bridge charges and landing fees charged to carriers were 5.5% higher at $13.3 million, as compared to $12.6 million for the same period in 2005.

Expenses

Total expenses before depreciation increased to $32.9 million in the first six months of 2006 from $31.2 million in 2005. During the period, the Authority paid a total of $6.2 million in ground rent to the federal government in accordance with the new rent formula that was announced in 2005

Capital Expenditures

During the period, the Authority made cash payments of $3.9 million for major capital expenditures, related to the Airport Expansion Program Phase II. An additional $1.1 million was spent on maintenance capital expenditures.

OMCIAA operates Ottawa International Airport without government subsidies under a 60-year lease transfer agreement with Transport Canada. The OMCIAA’s mandate is to manage, operate and develop airport facilities and lands in support of the economic growth of the National Capital Region. Its state-of-the-art passenger terminal building opened for business on October 12, 2003, and is being expanded to accommodate growth in passenger volumes.

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