MORE GROWTH IN 2005 FOR THE OTTAWA INTERNATIONAL AIRPORT AUTHORITY
April 21, 2006 (Ottawa) – The Ottawa International Airport Authority today released its audited year-end results for 2005.
Total passenger volumes of 3,735,433, set a new record for the Ottawa International Airport. Overall traffic increased by 3.5%, and can be broken down as follows: domestic increased by 1.6%; transborder by 12.2%; and international by 1.9%.
“Continued growth in passenger numbers is great news, and means that the airport will also grow to meet the need for increased capacity” said Paul Benoit, President and CEO of the Ottawa International Airport Authority. He continued, “the expanded terminal will meet the needs of the National Capital Region for the next 15 to 20 years”.
Financial results for the Airport Authority were equally positive with earnings before depreciation of $9.0 million compared to $8.9 million in 2004.
The Authority generated $72.5 million in revenues in 2005 as compared to $69.6 million in 2004. Increased passenger traffic resulted in higher airport improvement fees (AIFs); in 2005, a total of $24.5 million in AIFs was collected, which represents a 4% increase over 2004. Aeronautical revenues represented the largest source of revenues for the Authority in 2005. At $25.0 million in 2005, total aeronautical revenues, which include terminal fees, loading bridge charges and landing fees charged to carriers were 2.2% higher than in 2004.
Total expenses before depreciation increased from $60.7 million in 2004 to $63.5 million in 2005. While ground rent payable to the federal government increased by 11% to $13.0 million in 2005, the Government of Canada announced a new rent policy that will result in reduced rent for airport authorities, including the Ottawa International Airport Authority. Reductions will be phased in gradually over a transition period between 2006 and 2010.
During 2005, the Authority made cash payments of $12.8 million for major capital expenditures, including the expansion of the Parkade and preliminary work related to the Airport Expansion Program Phase II. An additional $2.9 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 new state-of-the-art passenger terminal building opened for business on October 12, 2003.