It’s that time of year again, when tour operators, hotels and travel companies announce a flurry of Black Friday and Cyber Monday travel deals.
TORONTO — The Greater Toronto Airports Authority is reporting 2.1 million passengers in the first nine months of 2017, up 6.2% year-over-year.
The GTAA, which operates Toronto Pearson International Airport, says this growth reflects increased capacity of aircraft and new routes, the economic strength of the Greater Toronto Region, and the role of Toronto Pearson International Airport as Canada’s largest airport and North America’s second busiest airport in terms of international passengers.
“Toronto Pearson’s continued strong growth in the third quarter of 2017 is a reflection of Ontario’s economic vibrancy and the strong demand for air service across Canada,” said Howard Eng, President and CEO, GTAA. “Toronto Pearson was recently ranked as the fifth most connected airport in the world by industry data specialists OAG. This access to international markets helps to drive our economy and is a major factor in businesses’ decisions to headquarter in Ontario.”
A total of 36 million passengers travelled through Toronto Pearson International Airport in the first nine months of 2017 as the international sector increased by 1.7 million passengers or 8% and the domestic sector increased by 439,000 passengers or 3.4% over the same period in 2016.
A total of 13.6 million passengers travelled through the airport during the three-month period ended Sept. 30, 2017 as the international sector increased by 414,000 passengers, or 5.3%, and the domestic sector increased by 166,000 passengers or 3.2% over the same period in 2016.
Both the third quarter and first nine months of 2017 recorded the highest number of domestic and international passengers.
The GTAA recorded net income of $56.3 million for the third quarter and $98.9 million for the first nine months of 2017, compared to $53.7 million and $80.7 million in the comparable 2016 periods, respectively, and continues towards reducing its deficit.
For the three- and nine-month periods ended Sept. 30, 2017, the GTAA reported total revenues of $368.6 million and $1,029.1 million, representing increases of $17.5 million and $59.7 million from the same periods in 2016, respectively.