TORONTO Pearson International Airport is pursuing US$136 million in funding from the Canadian government to repurpose an underutilised office complex for cargo operations, part of an effort to increase non-passenger revenue streams.
The president and CEO of the Greater toronto Airports Authority, Deborah Flint, told New York's FreightWaves at an industry event that the 11-acre parcel was 'not performing to its maximum potential' and that its proximity to other cargo and airline operations made it a good candidate for a cargo facility.
The airport authority has applied for a grant under the National Trade Corridors Fund, an infrastructure programme aimed at improving the fluidity of cross-border trade and making Canada more competitive. Transport Canada is expected to issue several project awards as soon as this week.
Toronto Pearson last year moved $31.5 billion worth of exports, according to its annual report. Cargo played a larger revenue role in 2021. Average daily freighter activity more than doubled from 2019 from 18 to 44 flights per day.
Increased freighter volumes were offset by the decline in bellyhold cargo related to the severe reduction in passenger traffic. Cargo revenues, which are included in aeronautical revenues such as landing fees, increased 147 per cent to $32 million during 2021 compared to 2020.
The airport authority said it expects e-commerce growth to continue and that it is planning to have the right facilities in place to meet that demand.
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The president and CEO of the Greater toronto Airports Authority, Deborah Flint, told New York's FreightWaves at an industry event that the 11-acre parcel was 'not performing to its maximum potential' and that its proximity to other cargo and airline operations made it a good candidate for a cargo facility.
The airport authority has applied for a grant under the National Trade Corridors Fund, an infrastructure programme aimed at improving the fluidity of cross-border trade and making Canada more competitive. Transport Canada is expected to issue several project awards as soon as this week.
Toronto Pearson last year moved $31.5 billion worth of exports, according to its annual report. Cargo played a larger revenue role in 2021. Average daily freighter activity more than doubled from 2019 from 18 to 44 flights per day.
Increased freighter volumes were offset by the decline in bellyhold cargo related to the severe reduction in passenger traffic. Cargo revenues, which are included in aeronautical revenues such as landing fees, increased 147 per cent to $32 million during 2021 compared to 2020.
The airport authority said it expects e-commerce growth to continue and that it is planning to have the right facilities in place to meet that demand.
SeaNews Turkey
