VANCOUVER, Sept. 20, 2012 /CNW/ - The Comox Valley Airport Commission
(CVAC) reported on a successful 2012 fiscal year with a 4.2 per cent
increase in its passenger numbers, revenue growth and a sustained focus
on air service development.
"CVAC recovered well in 2011, despite difficult circumstances for most
businesses following the economic downturn," explained CEO Fred Bigelow
at the Annual Public Meeting. "YQQ has maintained its passenger growth
into the first half of 2012 and we continue to lead Vancouver Island in
seat capacity growth."
The Commission reported an increase of 12,370 passengers in the 2011
calendar year with an additional eight per cent increase confirmed for
the first eight months of the 2012 calendar year. More passengers
travelling through the airport helped contribute to the almost $220,000
in additional revenue earned over the previous fiscal year. CVAC also
reported an increase of about $130,000 in its net revenue for a total
of $423,539 in 2012. In addition, the Commission holds $2.6 million in
cash and investments, about $787,000 more than the previous year.
The Commission's strategic plan projects a three per cent increase per
year in passenger numbers until 2015. Bigelow said the airport is in
an excellent position to meet or exceed that target in the 2012
calendar year. He also confirmed the current passenger terminal can
accommodate projected passenger loads and the Commission will ensure
future capital requirements are planned for.
CVAC continues working towards achieving its vision of developing and
expanding YQQ's scheduled air services network. In 2011, the
Commission released the results of an economic impact study
demonstrating the extensive benefits to the local economy from
potential new air service in the Comox Valley.
"The economic impact of new air service demonstrates what an important
investment YQQ is for the community," said Bigelow. "Each time a plane
lands here, it generates labour hours for those involved in handling
passengers, their baggage and the aircraft. A once daily service to
the United States would result in more than $24 million in direct
annual economic impact for this area. "
In support of this vision Bigelow confirmed the Commission developed an
incentive program to encourage airlines to develop new commercial
service at YQQ. CVAC also presented six business cases at a business
development conference and completed five meetings at headquarters
level with airlines who expressed an interest in doing business with
Bigelow went on to detail YQQ's successes in 2011 including the
completion and launch of its award winning brand model. The brand is
now an ongoing part of airport operations and can be seen around the
terminal building in the form of signage, uniforms, advertising and
corporate materials. An active marketing campaign utilizing print,
electronic, radio and outdoor advertising continues to promote YQQ to
Other key highlights for the fiscal year include the celebration of
WestJet's tenth anniversary, implementation of free WiFi in the
terminal building, launching a formalized school tour program for
elementary and pre-school aged children and winning the provincial Safe
Harbour Champion Award.
"YQQ was proud to be the first airport in the country to implement Safe
Harbour," said Bigelow at the conclusion of his presentation. "We
believe this program fits within our corporate values and results in an
improved experience for those guests who may require a little more
time, assistance or compassion while visiting our airport."
Further details on CVAC's goals, objectives and achievements can be
found in the 2012 Accountability Report posted on the Comox Valley
Airport Website at: comoxairport.com/about us/publications.
The Comox Valley Airport Commission (CVAC) was established in 1996 as a
non-share capital and not-for-profit organization to operate the civil
aviation facilities, including the terminal and apron, at the Comox
Valley Airport (YQQ). The airfield and its associated systems are
operated by the Canadian Air Force at 19 Wing Comox on a continuous
SOURCE: Comox Valley Airport
For further information:
Comox Valley Airport
Phone: 250-890-0892 ext. 253