WINNIPEG – April 30, 2008 – Winnipeg James Armstrong Richardson International Airport continues to experience increases in both passenger and cargo revenues as well as development on the airport campus.
For the three months ended March 31st, approximately 908,000 passengers passed through this community, representing a 5.5% increase over the same period in 2007.
During the first quarter, Winnipeg Airports Authority welcomed both Canada Post and Greyhound Canada as they announced plans to build state-of-the-art facilities at the airport.
“We continue to build on our heritage of transportation excellence by leading local development and growing the entry point for global trade,” said Barry Rempel, President & CEO of Winnipeg Airports Authority Inc. “Airport site redevelopment is contributing to the vision of Winnipeg as a true airport city, addressing not only the needs of travellers but enabling our community to become a transportation, distribution and logistics centre for North America.”
Consolidated revenues were $20.2 million for the first quarter, an increase of 23.6% over the same period in 2007, due primarily to the increases in passenger volume and increase of the Airport Improvement Fee. Cargo revenues increased by 5.6% over the first quarter of 2007. Operating costs were $9.7 million for the quarter, an increase of 15.0% from the previous year.
Earnings before interest, income taxes and amortization (EBITDA) increased to $10.5 million for the three months, an increase of 32.6% over 2007. EBITDA is used generally as a proxy to determine WAA’s ability to service its debt obligations. Net income was $7.3 million for the quarter (2007 - $4.8 million).
source:
http://www.waa.ca/?pid=25&newsid=0102