Toronto Pearson Highlights |
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Q2 2023 financials and passenger traffic highlights |
On August 9th, the GTAA reported its financial and operating results for the second quarter of 2023. Passenger activity increased due to the high travel demand, which continues to remain strong, and the removal of pandemic-related government travel restrictions that existed during the first half of 2022. Highlights:
- Passenger activity increased by 2.0 million or 22.1 per cent to 11.3 million and 6.6 million or 46.1 per cent to 21.2 million during the second quarter and first half of 2023, when compared to the same periods of 2022.
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During the second quarter and first half of 2023, passenger activity recovered to 88.3 per cent and 86.5 per cent relative to the same periods of 2019 passenger activity, respectively.
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Net income during the three and six months ended June, 2023 increased by $29.6 million to $81.1 million and $123.0 million to $129.9 million, respectively, when compared to the same periods of 2022.
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Although debt decreased $20 million from $6.9 billion in Q2 2022, it remains $440 million greater than in 2019.
Since last summer, the GTAA has worked with government and its partners to improve travel and restore passenger confidence. Toronto Pearson has made significant investments and has tangibly improved passenger experience across its operations by implementing digital innovations and bolstering staffing. These investments have expedited check-in and boarding processes, reduced wait times, and upgraded baggage infrastructure to be more resilient. We look forward to continue working with our partners to ensure that we are ready for the fall and for the upcoming winter travel season.
The GTAA’s June 30, 2023 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- and six-months ended June 30, 2023, which are available at www.torontopearson.com and on SEDAR at www.sedar.com.
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Federal Pre-Budget Submission |
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The GTAA put in a federal pre-budget submission to recommend the government take immediate action that would rapidly improve the passenger experience at Toronto Pearson, focusing on the day-to-day commitment and efforts to improve air travel, create economy prosperity for Canadians, and enabling the airport of tomorrow. The submission highlights the recommendations made to government with regards to improving the passenger journey, ensuring the Canadian aviation industry is globally competitive, meeting our net-zero goals, and championing small and local businesses.
Here are GTAA’s recommended immediate actions:
Protecting Air Travellers and Improving the Passenger Journey: -
Recommendation 1: That the government adequately fund CATSA to deliver globally competitive service standards for security screening. Specifically at Toronto Pearson, CATSA should be funded to process 95 per cent of travellers in 5 minutes, with no one waiting longer than 20 minutes.
- Recommendation 2: That the government work with industry to increase the pool of eligible travellers in CATSA’s Verified Traveller Program, expand the program to include travel to the US, and launch an enrollment process for Canadians who are not NEXUS members.
- Recommendation 3: That the government accelerate digitization of the end-to-end traveller journey through the use of biometrics and other technologies at check-in, self-serve baggage drops, security screening, boarding and for inbound international travellers.
Fuelling the Canadian Economy: Enabling the Airport of the Future: - Recommendation 4: That the government invest in transformative infrastructure projects to ensure Canada’s aviation system is globally competitive, meeting climate change goals and on the leading edge of passenger service.
The Runway to a Greener Future: -
Recommendation 5: That the government provide financial incentives to the aviation industry and other businesses that have demonstrated their commitment to support Canada’s net-zero goals, such as sustainable alternative fuels, electrification and other projects that support transition to a greener economy.
- Recommendation 6: That the government of Canada implement the Sustainable Aviation Fuel (SAF) roadmap promoted by the Canadian Council for Sustainable Aviation Fuels’ (C-SAF) to develop a domestic supply of SAF.
Championing Small and Local Businesses: -
Recommendation 7: That the government modernize its duty-free policies and regulations to allow for the establishment of Arrivals Duty Free (ADF) and Dual Shop Stores (DSS) at Canadian airports.
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Deborah Flint receives Honorary Doctorate from Toronto Metropolitan University |
The GTAA is pleased to announce that its President and CEO, Deborah Flint, has been awarded the honorary doctorate by Toronto Metropolitan University in recognition of her outstanding contributions to the aviation industry. Deborah Flint stands on the brink of an impressive 25-year milestone in the industry. A Canadian-born San Jose State University, California graduate, she has excelled in key leadership roles. From her rise in leadership at the Oakland International Airport and Seaport and as CEO of Los Angeles World Airports, she provided visionary leadership for the strategic direction and transformation of Los Angeles International Airport (LAX) and Van Nuys Airport. Since 2020, she has continued this legacy as President and CEO of the GTAA, operator of Toronto Pearson International Airport. Learn More.
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Greater Toronto Airports Authority and Unifor reach a collective bargaining agreement |
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In June, The Greater Toronto Airports Authority (GTAA) and Unifor, Canada’s largest private sector union, have successfully reached a collective bargaining agreement, representing more than 1,200 employees at Toronto Pearson. The four-year agreement will be in effect from August 1, 2023, to July 31, 2027. This agreement signifies the shared vision of enhancing the travel experience for all passengers. By engaging in constructive dialogue and cooperation, the GTAA and Unifor have effectively reached an agreement on complex labour issues. The collective agreement included wage increases over the four years along with increases in benefits and pension contributions. The agreement also brought compensation for skilled trade workers in line with industry standards and other unions.
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Toronto Pearson Airport and Carlsun Energy announce Ontario’s first public hydrogen refuelling station for light- and heavy-duty vehicles |
On July 6, the GTAA and Carlsun Energy announced Ontario’s first public hydrogen refuelling station, designed to cater to cars and large transport trucks. The hydrogen station aligns with Toronto Pearson’s dedication to embracing environmentally friendly and effective energy solutions within the aviation industry, and in building the airport of the future. The hydrogen refuelling station will be built, owned, and operated by Carlsun Energy, and will be capable of refuelling light-duty vehicles and transport vehicles which is integral to Toronto Pearson’s leadership in building clean energy solutions. Learn more.
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National Trade Corridor Fund announcement |
On July 7, Minister of Transport, the Honourble Omar Alghabra, announced an investment of nearly $94 million under the National Trade Corridors Fund (NTCF) for a cargo development project at Toronto Pearson. This fund will improve cargo capacity and improve operational efficiency: the South Cargo Transfer Development Facility (YYZ South) and the North Cargo Apron Development (YYZ North). YYZ South will increase capacity for incoming cargo, and YYZ North will build additional infrastructure for more cargo aircraft parking spaces, which will also increase cargo capacity. Learn more.
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Toronto Pearson Airport records enhanced operational efficiency |
On July 18, 2023, President and CEO of the GTAA Deborah Flint, provided Toronto Pearson International Airport’s mid-summer performance update. Since last summer, Toronto Pearson has enhanced the passenger experience across its operations, implemented digital innovations, and bolstered staffing. These changes have led to faster check-in and boarding processes, shorter waiting times, and improved baggage infrastructure.
Due to these improvements, Toronto Pearson secured the top position for overall satisfaction ranking by passengers in the Airport Council International (ACI) Large Airport Category in North American for the second quarter of 2023. These enhancements generated significant results compared to summer of 2022 various operation areas of the airport such as on-time performance, baggage, gate holds, security wait times, and customs wait times. Learn more.
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Toronto Pearson and airport partners share tips for summer travel |
GTAA, operator of Toronto Pearson, together with the Canadian Air Transport Security Authority (CATSA) and Canada Border Services Agency (CBSA) offered passengers valuable travel tips and advice for a smooth, predictable airport experience for the summer. To help make the experience easier, Pearson and its airport partners have introduced and expanded a suite of tools aimed at making travelling easier such as YYZ Express expansion, Mobile Passport Control, and many more.
Learn more about these tips that will help smooth the travel experience at Pearson airport. |
Osmow’s authentic Mediterranean and Middle Eastern lands at Toronto Pearson |
Toronto Pearson Airport is excited to announce the opening of a highly anticipated addition to its culinary scene. Osmow’s, a renowned family restaurant chain, opened its first-ever airport location on July 15. Situated in Terminal 1’s domestic sector, post-security, Osmow’s will introduce travellers to an enticing menu of modern Mediterranean and Middle Eastern dishes.
Toronto Pearson Airport serves as a gateway to Canada, welcoming millions of passengers annually. With its commitment to exceptional quality and service, introducing Osmow’s will enhance the airport’s culinary landscape, offering a unique blend of flavours that reflects Toronto’s rich cultural diversity. |
HMSHost teams up with Henderson Brewing Company and RUSH to open new concept at Toronto Pearson International Airport |
On June 5, HMSHost announced a collaboration between local craft brewery Henderson Brewing Company and world-renowned Rock & Roll Hall of Famers RUSH – that made Toronto Pearson International Airport famous with their epic song “YYZ”. The 28-seat Henderson Brewery will be in a prime, pre-security area of Terminal 1 which will be easily accessible to both domestic and international passengers, as well as visitors to the airport. The bar will be outfitted with original artifacts from RUSH’s touring and recording career. Click here to learn more about the announcement.
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Condor boasts new A330neo at YYZ |
Exciting news at Toronto Pearson! We are thrilled to announce the arrival of a brand-new A330neo aircraft at our airport, ushering in a new era of travel possibilities. The striking striped livery and vibrant colors of this remarkable fleet are sure to catch your eye as they grace our runways. One of the coolest aspects of this aircraft is its versatile cabin, designed to cater to a wide range of travelers, from business professionals to leisure travelers.
We are proud of our partnership with Condor, the only carrier at YYZ offering flights on this fuel-efficient aircraft throughout the summer season. Their direct, 5x weekly route to Frankfurt opens up a world of opportunities for our passengers, enabling seamless connections to one of Europe’s most vibrant cities. Moreover, we want to celebrate and commend Condor’s commitment to sustainability. The eco-friendly nature of the A330neo represents a step forward in reducing environmental impacts. By embracing modern technology, Condor showcases their dedication to a greener future for aviation. |
Make the most of your Toronto Pearson experience with an Amex offer |
Exciting news for American Express Cardmembers! Get ready to enhance your travel experience by treating yourself to some retail therapy and grabbing a bite with this Amex Offer! Earn up to $40 in statement credits when you indulge in your favorite meals and shop at select duty-free locations.
Here’s how it works: Register for the offer and spend $80 on eligible dining and retail purchases at Toronto Pearson and you can earn a $20 statement credit, up to 2 times! So, whether you’re departing or arriving at Terminal 1 or Terminal 3, you can take advantage of this offer. Visit m.amex/ca-pearson for offer details.
With this offer, you can enjoy fantastic rewards at eligible dining establishments at T1 and T3 whether you’re in the mood for a delicious burger, authentic international cuisine, a quick snack, or just retail therapy! Click here to see a list of eligible dining restaurants at Toronto Pearson. |
Introducing our new #YYKeyZ Piano |
If you’re waiting for your flight, heading to your gate, or just browsing for pre-flight snacks, you might hear some music in the distance! We’re continuing to put the joy back into travel at Toronto Pearson with the addition of our new #YYKeyZ piano! (Sit, play, and share by tagging @TorontoPearson and use the hashtag #YYKeyZ when sharing on social media so we can see it, too!)
Located in Terminal 1, Domestic Departures, near Gate D20, #YYKeyZ elevates the travel experience by fostering a positive and vibrant atmosphere, while offering complimentary entertainment to those with a little extra time before their flights. Whether you’re a professional pianist, casual player, or are simply seeking to indulge in some delightful melodies, this new piano is waiting for you to showcase your musical talent and catch a beautiful serenade. Learn more about the history of our piano.
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Newly opened Vino Volo kiosk in T3 |
For wine enthusiasts and connoisseurs, the newly opened Vino Volo kiosk in T3, Pier A offers a delightful solution to enhance your journey. Now, you can purchase your favorite bottles of wine to take home or your visiting destination with a small food purchase, adding a touch of elegance to your travel experience.
Located conveniently in T3 near gates B1-B5, the Vino Volo kiosk provides an enticing selection of premium wines from around the world. Whether you’re a fan of robust reds, crisp whites, or sparkling delights, you’ll find a wide array of options to suit your taste preferences. From renowned wineries to hidden gems, the kiosk curates a collection that will impress. The unit will also have a wide selection of extra grab and go snacks and beverages. The wine bar is open daily from 3 pm until 11 pm (or last flight) – hours may be adjusted depending on flight schedule - Terminal 3, Pier A (Gates B1-B5)
Next time you find yourself navigating through T3, be sure to visit the Vino Volo kiosk and embark on a delightful journey through the world of wine! |
Mark your calendars for the 2023 Noise Forum meetings |
The Noise Management Forums are a series of briefings, presentations and working groups that are helping Pearson work smarter with its communities and collaborate better with industry partners. You can view the schedule of upcoming meetings here.
Join us on Thursday, September 28th, 2023 from 6:00 to 8:00 p.m. for our Pearson Public Meeting online as part of our Noise Management Forums. We have a drop-in portion where you can ask questions based on where you live relative to the airport and a public meeting portion with presentations and a question period.
A friendly reminder that our neighbours are welcome to attend Pearson Public meetings to learn more about airport operations, hear about noise management efforts, and provide feedback to industry partners. Visit our noise forum webpage to review materials or watch the recording from previous Pearson Public meetings. Another way to learn more about airport operations is by visiting InsightFull, for customized information based on your address as well as reports on operations, complaints, and noise.
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Reminder: New noise advisory calendar |
Remember to regularly check out our new Noise Advisory calendar for an ‘at-a-glance’ view of regular airside maintenance that could affect airport traffic operations resulting in temporary changes in community noise impacts. The calendar is updated to reflect the latest scheduled work, replacing the noise advisory documents previously issued on a weekly basis.
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Your accessible journey starts here |
As a terminal operator in Canada forming part of the federal transportation network, this is the GTAA’s Accessibility Plan, which is a roadmap to creating and maintaining impactful accessibility. This Accessibility Plan has been prepared in accordance with the Accessible Canada Act, its Principles and Regulations, and the Canada Transportation Act (CTA), as applicable to the GTAA. This Accessibility Plan explores the GTAA’s policies, programs, practices and services in relation to the identification and removal of barriers, and the prevention of new barriers in the following seven key areas: - Built environment
- Transportation
- Information and communication technologies (ICT)
- Communication, other than ICT
- Design and delivery of programs and services
- Employment
- Procurement of goods, services and facilities
This Accessibility Plan also explores the actions being taken to identify, remove and prevent barriers by outlining short- and long-term commitments to further improve accessibility now and into the future. This Accessibility Plan is expected to be updated every three years, inclusive of progress reports or as otherwise advised by CTA and its Regulations. Learn more about the GTAA’s accessibility plan. |
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Please refer to the GTAA’s Privacy Policy for more information regarding the manner in which we treat personal information. |
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