TORONTO — The Greater Toronto Airports Authority’s passenger activity and net income increased substantially at 8% and 29.7% respectively in 2016 compared to 2015. The GTAA is the operator of Toronto Pearson International Airport.
The GTAA credits increased aircraft capacity and new routes for the growth, along with 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 total passenger traffic for 2016 increased well ahead of worldwide trends, said GTAA President and CEO Howard Eng.
In 2016 Toronto Pearson experienced the largest annual increase in passenger growth in terms of the total number of annual passengers, and also the percentage of passengers for both the domestic and international sectors in the last 10 years.
A total of 44.3 million passengers travelled through Toronto Pearson International Airport during 2016, an increase of 3.3 million passengers over 2015. During 2016, passenger activity in the international sector increased by 2.2 million passengers reflecting 8.8% growth and the domestic sector increased by 1.1 million passengers reflecting 6.9% growth over 2015.
The GTAA recorded net income of $85.5 million during 2016 compared to $65.9 million in 2015.
During 2016 the GTAA reported total revenues of $1.3 billion, representing an increase of $85.0 million over 2015.
During 2016, the GTAA’s non-aeronautical revenues increased $26.0 million compared to 2015. The increase was due to the high passenger growth, the opening of 25 new retail stores, restaurant, and beverage establishments and increases in parking rates and enhanced marketing initiatives.