TORONTO, May 7, 2013 /CNW/ - The Greater Toronto Airports Authority (the
"GTAA") today reported its financial and operating results for the
three-month period ending March 31, 2013. The first quarter of 2013
saw a continuation of the improving operating results experienced in
For the three months ended March 31, 2013, the GTAA reported total
revenues of $267.5 million, a $12.1 million reduction from the same
period in 2012. This decrease was primarily attributable to a
reduction of approximately 10 per cent in overall 2013 aeronautical
fees compared to 2012 overall aeronautical fees, when measured as the
average air carrier cost per enplaned passenger. Total operating
expenses were $177.6 million, a $3.4 million increase when compared to
the first quarter of 2012. Earnings before interest and financing
costs were $90 million for the three-month period. After accounting
for interest and financing costs, the GTAA recorded net loss of $7.8
million for the first quarter ended March 31, 2013, compared to a net
income of $0.2 million in the comparable 2012 period.
A total of 8.4 million passengers travelled through Toronto Pearson
International Airport in the first three months of 2013, a 1.1 per cent
increase compared to the same period in 2012. During the three-month
period ended March 31, 2013, passenger activity in the domestic and
transborder sectors increased by 3.2 per cent and 6.8 per cent,
respectively, over the same period in 2012. Passenger activity in the
international sector decreased by 5.2 per cent during the first quarter
of 2013, when compared to same period in 2012, as certain international
services were discontinued during 2012.
Effective January 1, 2013, the GTAA implemented its aeronautical fees
for 2013 (February 1, 2013 in the case of the apron fee and April 1,
2013 in the case of the check-in fee). The combined impact of the
aeronautical fee changes is a reduction of approximately 10 per cent in
overall aeronautical fees compared to 2012 overall aeronautical fees,
when measured as the average air carrier cost per enplaned passenger.
The GTAA's continuing commitment to increase non-aeronautical revenues
by providing amenities valued by the traveling public and managing
operating expenses has contributed to the rate decreases that have been
provided to air carriers in recent years and for 2013.
The GTAA's March 31, 2013 financial results are discussed in more detail
in the GTAA's Financial Statements and Management's Discussion and
Analysis, each for the quarter ended March 31, 2013, which are
available at www.torontopearson.com and on the Canadian Securities Administrators' website at www.sedar.com.
The GTAA is the operator of Toronto Pearson International Airport, the
largest airport in Canada, the second largest airport in North America
in terms of international traffic (international and transborder) and
one of the largest airports in North America in terms of total
passenger and air cargo traffic.
SOURCE: Greater Toronto Airports Authority
For further information:
Contact: GTAA Media Office (416) 776-3709