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Toronto Pearson Highlights |
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Q1 2024 financials and passenger traffic highlights |
On May 9, the GTAA reported its financial and operating results for the first quarter of 2024. Financial performance continues to strengthen, and passenger activity increased due to strong travel demand. Highlights: - Passenger activity significantly increased by 0.9 million or 8.7 per cent, from 10.00 million to 10.9 million in the first quarter of 2024, when compared to the same period of 2023.
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During the first quarter of 2024, passenger activity recovered to 92.3 per cent compared to the first quarter of 2019 passenger activity.
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Net income during the first quarter of 2024 increased by $24.8 million to 73.6 million, when compared to the same period of 2023 due to higher revenues associated with the increase in operating activity, a decrease in interest expense, partially offset by an increase in operating costs during the first quarter of 2024.
The GTAA’s first quarter financial results are discussed in more detail in the GTAA’s Condensed Interim Consolidated Financial Statements and Management’s Discussion and Analysis, each for the three-months ended March 31, 2024, which are available at www.torontopearson.com and on SEDAR at www.sedar.com.
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Submission to the Provincial Government on Proposed Provincial Planning Statement and Bill 185 |
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The GTAA provided a written submission for the Standing Committee on Finance and Economic Affairs regarding Bill 185, Cutting Red Tape to Build More Homes, 2024. The submission focused on ensuring the objective of developing more homes in Ontario is done in a balanced manner that provides accelerated housing development for Ontarians while also preserving Toronto Pearson’s role as a key economic driver by protecting the land and airspace around the airport.
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Adding Protection for Airports in the Provincial Policy Statement (PPS) - GTAA thanks the government for enshrining protections for airports in the PPS. However, the PPS also states the Minister may make decisions that consider other issues to balance government priorities, such as housing and transit hubs. GTAA asks for assurances that airport airspace and noise-sensitive lands continue to be protected, given that these lands represent a small fraction of available land for residential development in the region.
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Bill 185 Removes GTAA’s Right to Appeal – Airports are not defined as “specified persons” under the Planning Act, thus have had their third-party right to appeal Official Plan and Zoning Bylaws eliminated as part of Bill 185. Given the government’s updated PPS that provides protection for airports, it is important that airports have the ability to appeal the small number of potential applications that may arise and conflict with the government’s intent under the PPS.
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Revised Employment Land Definition in the PPS – Bill 97 introduced a new, narrower definition of employment lands that excludes commercial, office, and institutional uses. GTAA is concerned by this change, as it could upend the strategically important employment lands that surround the airport, allowing the conversion of office and commercial uses for residential development contrary to the airport’s new protections in the PPS. Retaining a more inclusive definition of employment lands, specifically in the airport employment area, that recognizes the interdependency of manufacturing, logistics, office, commercial, institutional and retail uses, to the economic diversity and success of the area is recommended by GTAA.
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Removal of Provincial Protections of Employment Lands in the PPS – The ending of the Provincially Significant Employment Zone (PSEZ) policy designation removes a higher order of protection against ad hoc conversions for strategically important employment lands that have high concentrations of industry and jobs, such as those around Toronto Pearson. This combined with the removal of the provincially mandated Municipal Comprehensive Review process, can increase the pressure and frequency of employment land conversion. GTAA recommends pausing the end to the PSEZ and working with the airport and other stakeholders to develop an employment land protection policy that is underpin by a regional economic development strategy.
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Updated Framework for Ministerial Zoning Orders (MZOs) – The GTAA supports the government’s plan to introduce more transparency and consultation to the MZO process. We also request that proposed MZOs that impact airport operations or involve development in noise-impacted areas be required to be sent to the affected airport for consultation.
Facing the loss of our appeal rights in Bill 185, GTAA held discussions with the province to explain how our appeal rights needed to be continued given that the proposed Provincial Planning Statement provided protection against development that impacted airport operations. As a result, appeal rights for airports are now included in Bill 185.
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GTAA begins discussions with design and construction companies in preparation for Pearson LIFT |
On April 12, the GTAA initiated discussions with design and construction companies on Pearson LIFT - Long Term Investment in Facilities and Terminals (LIFT), on the procurement, planning and vision of the program. LIFT is a capital plan that will span more than ten years, investing billions of dollars into airport facilities through construction programs which are aimed at preparing the largest airport in Canada for the challenges and opportunities of the coming years and beyond. Learn more about the industry forum here.
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Deborah Flint attends inauguration of new Bombardier facility at Toronto Pearson |
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On May 1, Deborah Flint, President and CEO of Toronto Pearson attended the inauguration of Bombardier’s 770,000 square foot Global Manufacturing Centre which will be used to assemble the company’s Global business jets. In her remarks, Deborah spoke about the importance of this facility with regard to its economic impact on the region. The addition of the plant’s 2,000 strong workforce expands what is already the second largest employment zone in Canada. A multi-faceted facility, Bombardier is establishing 17 production stations for final assembly of new aircraft as well as their pre-delivery testing. This development also marks a major leap in the use of Sustainable Aviation Fuel (SAF) and electric ground vehicles in flight operations, contributing to our commitment to a sustainable future.
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GTAA participates in the National Air Accessibility Summit in Ottawa |
On May 9, the GTAA was invitedto participate in the National Air Accessibility Summit, hosted by Minister of Transport Pablo Rodriguez and Minister of Diversity, Inclusion, and Persons with Disabilities Kamal Khera. With the federal government’s focus on ensuring Canadians with disabilities have a fully accessible transportation system, members from the disability community, the aviation industry, and international partners were invited to Ottawa to participate. They discussed and made commitments on how to provide equal opportunities to people with disabilities in the air sector. Learn more.
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Toronto Pearson’s newest routes |
We are excited to announce new routes and offers from our airline partners for travelers throughout March, April and May. Travelers can now fly to these destinations from Toronto Pearson with some well-known Canadian airlines: -
Dublin, Ireland: WestJet Airlines is offering daily flights to Dublin, Ireland as of March 1.
- Las Vegas, Nevada: Enjoy shopping, fine dining and entertainment in Las Vegas, Nevada through Porter Airlines’ daily flights as of March 5.
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Charleston, South Carolina: Explore the picturesque city of Charleston, South Carolina with Air Canada’s daily flights starting on March 29.
- Tulum, Mexico: Air Canada will be the first airline to serve Tulum’s new airport with two weekly flights from Toronto Pearson.
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Quebec City, Quebec: With three weekly flights through Flar Airlines and seven weekly flights through Porter, flying to Quebec City just got a lot easier.
- St. John’s, Newfoundland: Enjoy the option of four weekly flights to St. John’s, Newfoundland, with Flair Airlines
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Saskatoon, Saskatchewan: Explore Saskatoon, Saskatchewan with Porter Airlines’ daily flights, seven days a week.
- Seattle Washington: Traveling to Seattle, Washington just got easier with Alaska Airline’ daily flights available seven days a week.
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Deer Lake, Newfoundland: Starting May 27, Flair Airlines is offering three weekly flights to Deer Lake.
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New airlines join Toronto Pearson |
We are thrilled to welcome Swiss Air, BermudAir, Alaska Airlines, and ITA Airways as our latest additions to the Toronto Pearson family: -
Alaska Airlines is the fifth largest airline in the US with daily non-stop service from its home base in Seattle.
- BermudAir, a premier boutique airline that launched in fall 2023, offers direct flights three times per week to the island.
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Swiss Air offers direct flights to Zurich five times weekly, further positioning Pearson as a key connection for Switzerland and Canada
- ITA Airway non-stop service to Rome will help meet the growing demand in travel between the two cities.
These new partnerships aim to improve the air travel experience for the millions of passengers who pass through Toronto Pearson each year. |
Clean aviation is ready for takeoff! |
Toronto Pearson has signed a Memorandum of Understanding with Airbus and ZeroAvia on groundbreaking research focused on developing hydrogen infrastructure at the airport. New power for flight will drive employment and the evolution of local, national and international supply chains, given the growing role air cargo and connectivity play in our economy. Karen Mazurkewich, Vice President of Stakeholder Relations & Communications joined representatives from YUL and YVR in Montreal for the announcement.
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On May 10, Toronto Pearson celebrated ITA Airways inaugural flight at Terminal 1 from Toronto to Rome. This non-stop service will operate six times weekly from Toronto Pearson to Leonardo da Vinci-Fiumicino Airport in Rome, between June and September and then five times weekly in October. This celebration marks the significant demand in travel which is driven in part by the substantial Italian/Canadian population. This direct flight plans to transport 2 million passengers annually and there are already 30,000 booking between May and September.
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Toronto Pearson strikes gold with top accessibility rating! |
Thanks to a rigorous five-year endeavour to remove barriers and improve accessibility in Terminals 1 and 3, Toronto Pearson has been rated 'Accessibility Certified Gold' by the Rick Hansen Foundation, the highest rating in the organization's Accessibility Certification program measuring meaningful, physical accessibility to buildings and sites. More than 1,000,000 passengers with disabilities pass through Toronto Pearson every year. Creating and maintaining an accessible airport is one of the GTAA's strategic goals to ensure that all our passengers, regardless their abilities, experience the joys of air travel. With this certification, we're joining an elite group of recipients recognized by the Rick Hansen Foundation for their commitment to accessibility: while more than 1,750 sites across Canada have been RHFAC rated, just over 110 sites have managed to achieve gold status.
The Gold Certification rating for both Terminals 1 and 3 comes after the GTAA implemented more than 1,400 upgrades to improve accessibility for both passengers and employees at the airport, including the installation of everything from additional automatic door openers to expanded passenger seating and tactile attention indicators at the top of the landing stairs in Terminals 1 & 3 and the adjoining parking garages. Learn more.
This achievement marks another meaningful step in our journey to make Toronto Pearson the most accessible airport in the world. To learn more about accessibility at Toronto Pearson, visit: torontopearson.com/accessibility. |
Celebrating Airport Workers Day |
On June 26, airports across Canada will celebrate the inaugural Airport Workers Day. Organized by airports across Canada and the Canadian Airports Council (CAC), the day recognizes the people who keep Canada moving and celebrates their vital contributions to the aviation ecosystem. As the largest airport in Canada, we are proud to participate in this celebration to showcase our appreciation of our workers at Toronto Pearson. The airport is embarking on an ambitious modernization and expansion plan to meet the region’s economic growth and passenger demand through LIFT, investing in and supporting the staff that operate the airport daily is critical to realizing the passenger and economic growth.
Located in Canada’s second largest employment zone, Toronto Pearson and its airport partners employ over 50,000 people. In total, over 300,000 people are employed in the area surrounding the airport. |
Annual Public Meeting held on May 1 |
On May 1, we held Toronto Pearson’s Annual Public Meeting to talk about the airport’s management, operation, maintenance, and future plans. This year’s meeting was held in a hybrid approach with the option to join in-person or virtually. The Chair of the Board, Doug Allingham and the President and Chief Executive Officer, Deborah Flint review the year, and the Chief Financial Officer, J’Maine Chubb, gave an overview of our financial performance. Find our Annual Report and recording of the meeting.
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National Day of Mourning in memory of workers |
April 28 is the National Day of Mourning, a time to remember those who have lost their lives, or experienced illness or injury while on the job. We commemorated this day by lowering our flags to half-mast and holding a moment of silence. To reflect and recommit ourselves to our goal of zero injuries and preventing workplace tragedies, a ceremony was held on Friday, April 26, at Lounge 15 in Terminal 1, Departures level.
The National Day of Mourning was created by the Canadian Labour Congress to honour workers who were injured, became ill or lost a life as a result of their work. In 1991, the Parliament of Canada passed the Workers Mourning Day Act, making April 28 an official Day of Mourning. Since then, it has spread to more than 100 countries around the world and is recognized as Workers’ Memorial Day, and as International Workers’ Memorial Day by the International Labour Organisation (ILO) and the International Trade Union Confederation (ITUC).
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Pearson’s Summer Street Team is back! |
We’re thrilled to welcome back our Summar Student Street Team back for 2024. Hired through our Community Investment Program partner, ACCES Employment, our Street Team provides an interactive way to connect with our neighbours and local community. From environmental days and local farmer’s markets to community festivals and barbeques, look out for our colourful Toronto Pearson tent at a number of these events. Check out the calendar for a list of events, times, and locations.
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Mark your calendars for the 2024 Noise Forum meetings |
The Noise Management Forums are a series of briefings, presentations and working groups that are helping Pearson work smarter with its communities and collaborate better with industry partners. You can view the schedule of upcoming meetings here.
Join us on Thursday, July 25, 2024 from 6:00 to 8:00 p.m. for our virtual Pearson Public Meeting as part of our Noise Management Forums. We have a drop-in portion where you can ask questions based on where you live relative to the airport and a public meeting portion with presentations and a question period.
Our neighbours are welcome to attend Pearson Public meetings to learn more about airport operations, hear about noise management efforts, and provide feedback to industry partners. Visit our noise forum webpage to review materials or watch the recording from previous Pearson Public meetings. Another way to learn more about airport operations is by visiting InsightFull, for customized information based on your address as well as reports on operations, complaints, and noise.
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Greater Toronto Airports Authority
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PO Box 6031
Mississauga, ON, L5P 1B2, Canada
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