TORONTO, Nov. 6 /CNW/ - The Greater Toronto Airports Authority (the
"GTAA") today reported its financial and operating results for the 9-month
period ending September 30, 2007. A total of 24.0 million passengers were
processed at Toronto Pearson International Airport in the first nine months of
2007, a 1.1% increase over the comparable 2006 period.
For the nine months ended September 30, 2007, the GTAA reported total
revenues of $896.7 million. Total operating expenses were $404.6 million
including $112.1 million in ground rent paid to the federal government. After
accounting for debt service and amortization, the GTAA recorded revenues under
expenses of $3.5 million for the period.
With the completion of the Airport Development Program in early 2007, the
GTAA is now firmly committed to transforming itself from an organization
focused on rebuilding the Airport to one focused on maximizing the potential
of Toronto Pearson. The results for the first nine months of 2007 reflect the
new focus of the GTAA on competitiveness, growing the Airport's status as an
international gateway and ensuring long-term success for the organization, our
partners and the regional economy.
The financial results of the GTAA for the first three quarters of 2007
are discussed in more detail in the Consolidated Financial Statements of the
GTAA for the nine months ended September 30, 2007 and Management's Discussion
and Analysis which are available at www.gtaa.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 and one of the largest airports in North America in
terms of passenger and air cargo traffic.
For further information:
For further information: Scott Armstrong, Manager, Media and
Communications, (416) 776-3709