Apr 28, 2010
Winnipeg – April 28, 2010 - "We are pleased to see passenger traffic levels plateauing in a market that has experienced significant reductions in capacity," said Barry Rempel, President & CEO of Winnipeg Airports Authority Inc. "As we look to a slowly improving business environment, our focus remains on efficiency and effectiveness of all facilities and services that meet commitments to all our stakeholders."
First quarter passenger traffic at Winnipeg James Armstrong Richardson International Airport declined by 1.5% over the same period last year.
Revenues were $20.2 million for the first quarter, compared to $19.8 million for the same period in 2009. Operating costs were $9.4 million for the quarter, compared to $9.0 for 2009. Earnings before interest, income taxes, depreciation and amortization (EBITDA) remained strong at $10.8 million for the first quarter, equaling the same period in 2009. EBITDA is used generally as a proxy to determine WAA’s ability to service its debt obligations. Net income was $7.2 million for the quarter (2009 - $7.4 million). Total capital investment in the first quarter reached $33.2 million primarily on the airport redevelopment program.
Winnipeg Airports Authority is a non-share capital corporation responsible for the management and operation of Winnipeg James Armstrong Richardson International Airport and affiliate businesses. Net income is reinvested by WAA back into the community, primarily through airport development projects. WAA is self sufficient with taxpayers not directly involved in financing airport site redevelopment which is being paid through Airport Improvement Fees (AIF).
Winnipeg Airports Authority serves our region by providing value to our customers and community. A source of pride for our community, we strive to be a leader in its growth and development.
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For more information:
Christine Alongi
Director, Communications & Public Affairs
Winnipeg Airports Authority Inc
24 Hour Media Line: 204.992.2791