Canadian travellers are facing increased airport fees, report says. Here’s why
COVID-19 disrupted the airport sector’s “relatively stable” and resilient business model, as Canadian airports have added around $3.2 billion in combined debt, DBRS Morningstar said in an analysis note on Monday.
The latter only benefited from “modest” support, such as Transport Canada’s Airport Critical Infrastructure Program, launched in May 2021, which provides $571.2 million over five years.Story continues below advertisement During the pandemic, Toronto Pearson International Airport twice increased its airport improvement fee by $5 to $35 for departing passengers. That followed losses of $383 million and $350 million in 2020 and 2021, respectively.‘A Toronto issue’: Ipsos poll shows some TTC riders changing habits after violent incidents
Airports’ operating costs and capital expenditures are also on the rise due to inflation, per the agency. Tariff increases have become “necessary” as airports look to restart capital projects at higher costs after many were paused during the pandemic.Trudeau says Canada will work with U.S. to protect North American air space after Biden announces new rules
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