Passenger activity at Canada’s busiest airport nearly tripled in the third quarter of 2021, a sure sign that travel is on the upswing.
The Greater Toronto Airports Authority (“GTAA”) today reported its financial and operating results for the three- and nine-months ended September 30, 2021. Passenger activity increased 190% for the third quarter of 2021, rising from 1.7 million in the third quarter of last year to 4.7 million this year. Domestic traffic rose from 1.1 million to 2.9 million in the quarter, an increase of 165.3%, while international traffic leapt from 600,000 to 1.8 million; an increase of 239.4%.
Overall, passenger activity decreased 41.85 during the first nine months of 2021 as compared to the same periods of 2020, respectively.
These changes are obviously due to the impact of the COVID-19 pandemic on the GTAA and the global aviation industry generally, regular operating activity in the first quarter of 2020 and the most recent easing of government restrictions, officials said.
“The impacts of the COVID-19 pandemic on Toronto Pearson’s business have been dramatic and continue to have a significant impact on our operations,” said Deborah Flint, President and CEO. “Nonetheless, we are experiencing a return of passengers and therefore continue to focus resources on measures designed to cultivate a healthy airport experience for passengers and employees alike.
“Toronto Pearson will maintain its industry-leading role through the ongoing evolution of its globally recognized Healthy Airport program, and in doing so reinforce a pathway for recovery and return the Airport to its place as a strong economic driver for our local community, our province and our country.”
With continued global intermittent lockdowns, travel restrictions and government-imposed health requirements, the COVID-19 pandemic and resulting economic contraction has had, and is expected to continue to have, a material negative impact on demand for air travel globally. Toronto Pearson has continued to experience material declines in passengers and flight activity during the first nine months of 2021, as compared to the same period in 2020.
The reduced activity is having a material negative impact on the GTAA’s business and results of operations, including aeronautical and commercial revenues and airport improvement fees. However, during the second and third quarters of 2021, operating activity at the Airport has grown significantly from the same periods of 2020, due in part to a domestic vaccination rollout and the easing of government travel restrictions.
}While the full duration and scope of the COVID-19 pandemic cannot be known at this time, the GTAA believes that recovery will happen and the pandemic will not have a material impact on the long-term financial sustainability of the Airport,” officials said.
