Post by Jari on Aug 11, 2005 0:18:58 GMT -5
Traffic up, profit down at airport this year
Wed Aug 10 2005
By Aldo Santin
THE Winnipeg International Airport saw an increase in passengers for the second quarter of 2005 but the growth did not translate to the financial sheet.
The Winnipeg Airports Authority said that passenger traffic for the second quarter, ending June 30, was up five per cent -- 777,000 passengers -- compared with the second quarter of 2004.
For the first six months of 2005, the WAA said passenger traffic was up 7.5 per cent compared with 2004.
But the financial news was mixed, as expenses outpaced growth in revenues. While revenues increased 3.5 per cent in the first quarter, expenses grew at a rate of 5.8 per cent.
For the first six months of the 2005, the WAA reported revenue of $18.502 million (an increase of 5.9 per cent from 2004) and expenses of $16.608 million (an increase of 6.8 per cent from 2004); with a profit of $1.894 million -- slightly less than the $1.912 million for the first six months of 2004.
WAA spokesman Kelly Langevin said the increase in passenger traffic followed the demise of discount air carrier Jetsgo. He said Westjet and Air Canada picked up the passengers once carried by Jetsgo, and more flights were added. "We are pleased to note the sustained growth in passenger traffic and the positive impact it is having on our air service providers," Barry Rempel, WAA president and CEO, said in a prepared statement.
The increase in passenger traffic is good news for the WAA, which plans to break ground on a $350-million terminal by the end of the year. Langevin said the higher passenger traffic justifies the WAA's decision to proceed with the new terminal.
aldo.santin@freepress.mb.ca
Wed Aug 10 2005
By Aldo Santin
THE Winnipeg International Airport saw an increase in passengers for the second quarter of 2005 but the growth did not translate to the financial sheet.
The Winnipeg Airports Authority said that passenger traffic for the second quarter, ending June 30, was up five per cent -- 777,000 passengers -- compared with the second quarter of 2004.
For the first six months of 2005, the WAA said passenger traffic was up 7.5 per cent compared with 2004.
But the financial news was mixed, as expenses outpaced growth in revenues. While revenues increased 3.5 per cent in the first quarter, expenses grew at a rate of 5.8 per cent.
For the first six months of the 2005, the WAA reported revenue of $18.502 million (an increase of 5.9 per cent from 2004) and expenses of $16.608 million (an increase of 6.8 per cent from 2004); with a profit of $1.894 million -- slightly less than the $1.912 million for the first six months of 2004.
WAA spokesman Kelly Langevin said the increase in passenger traffic followed the demise of discount air carrier Jetsgo. He said Westjet and Air Canada picked up the passengers once carried by Jetsgo, and more flights were added. "We are pleased to note the sustained growth in passenger traffic and the positive impact it is having on our air service providers," Barry Rempel, WAA president and CEO, said in a prepared statement.
The increase in passenger traffic is good news for the WAA, which plans to break ground on a $350-million terminal by the end of the year. Langevin said the higher passenger traffic justifies the WAA's decision to proceed with the new terminal.
aldo.santin@freepress.mb.ca