Toronto airports authority announces 'decade-long investment' in Pearson Airport

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Toronto Pearson News

Deborah Flint,Airports Authority,GTAA

Toronto’s airports authority has announced a multibillion-dollar plan to update and modernize Toronto Pearson Airport. The Greater Toronto Airports Authority...

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"After many, many years, where we have had tired and aged assets across the airport facility, we'll be systematically investing in those, investing in them to bring them up to not just a state of great repair, but positioning them for the future."Pearson saw 45 million passengers in 2023 and is expected to see about 65 million annually by the early 2030s, the GTAA said in a press release.

The program will see the modernization of existing airport assets, including high-speed taxi lanes, a modernized airfield electric lighting and control system, and interim terminal facilities, according to the press release. The plan also includes investments in power generation to help the airport achieve net-zero targets.

Over the long term, Flint said she anticipates some moderate increases in Pearson's Airport Improvement Fee, in consideration of the levels of such fees at other airports in the country. The planned upgrades to the Montreal-Trudeau International Airport include an expanded roadway past the main entrance, new parking lots and drop-off areas, a satellite terminal and a connection to the REM commuter rail line.The Bank of Canada's 2% target means prices rise 50% every couple of decades. Is that really good for us and our economy? -- Poland’s re-embrace of the European Union mainstream is making it the turnaround story of the year for some investors.

 

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