Pearson Airport gets multibillion-dollar investment to modernize

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

The Greater Toronto Airports Authority said it launched the first phase of procurement for Pearson LIFT, a plan intended to help the airport meet growing demand for its services.

"Toronto Pearson has been meeting passenger needs by deploying extraordinary resources to many of its aged assets and facilities, which is not a sustainable solution with passenger traffic expected to grow," it said. "After what we experienced with the surge of growth and recovery, the challenges with our facilities in the recent past, we want to get ahead of that as best we can and start to develop those facilities that are going to help us expand sooner," said Flint.

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. A Vietnamese real estate tycoon was sentenced to death Thursday in the country's biggest-ever financial fraud case, a shocking development in an intensifying anti-corruption drive in the southeast Asian nation.In 1969, Stefano Ripamonti was feeling good about life. He was in his late twenties, working a glamorous job at an Italian high fashion shoe firm.

 

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