GTAA reveals passenger activity up by 8.7% in Q1 results
The Greater Toronto Airports Authority has reported its financial and operating results for the first quarter of 2024.
Passenger activity increased by 0.9 million, or 8.7 per cent, from 10.0 million to 10.9 million in the first quarter of 2024, when compared to the same period of 2023, due to strong travel demand. During the first quarter of 2024, passenger activity recovered to 92.3 per cent compared to the first quarter of 2019 passenger activity.
“Toronto Pearson International Airport’s first quarter was one of strong passenger growth, enabled by improving sector resiliency. Our financial performance continues to strengthen, along with improved customer experience and operational performance, as evidenced by a six per cent increase in on-time performance (departures) compared to the same period of 2023,” said Deborah Flint, president and CEO of GTAA.
“To complement increased passenger growth, we will undertake improvements to airport assets, such as the addition of high-speed taxi lanes to improve airfield performance, modernized airfield electric lighting and control systems, and power generation and energy efficiencies to move us toward our net-zero targets,” she added. “These targeted improvements are affordable and will provide us with greater redundancy and resiliency, positioning us to meet the operational requirements of short-term growth.”
The GTAA’s March 31, 2024 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.sedarplus.ca.
