Winnipeg Airports Authority Inc. (WAA) 2012 First Quarter Results
April 25, 2012
Q1 revenue growth reflects passenger traffic volume increases of 7.9% over the same period last year.
Revenue was $ 23.5 million for the first quarter, compared to $20.6 million for the same period in 2011. Earnings before interest, depreciation and taxes was $12.6 million, an improvement of $1.4 million over 2011’s first quarter. Cash generated from operations, not including the change in working capital, remained positive at $4.8 million for the first three months of 2012 (2011 - $10.3 million).
“We are pleased that collaboration with our carrier partners resulted in the provision of additional capacity in this market. This clearly contributed to passenger growth and financial results that were positive,” said Barry Rempel, President & CEO of Winnipeg Airports Authority Inc. (WAA). “We remain focused on growth opportunities, continuing to develop the airport campus and to be an economic engine for the community we serve.”
During the first quarter of 2012, the WAA welcomed airport campus growth such as the announcement by Exchange Income Corporation for the development of a state of the art maintenance facility for its large aircraft fleet and the opening of a new $50 million engine testing, research and development centre, a facility resulting from an exciting new partnership between GE Aviation and Standard Aero. Construction also began on Lakeview’s Winnipeg Grand Airport Hotel scheduled to open in 2013.
Winnipeg Airports Authority is a non-share capital corporation responsible for the management and operation of Winnipeg James Armstrong Richardson International Airport and affiliate businesses. WAA receives no operating funding from any level of Government.
Winnipeg Airports Authority serves our region by providing value to our customers and community. A source of pride for our community, we strive to be a leader in its growth and development.
Director, Communications & Public Affairs
Winnipeg Airports Authority Inc.
Phone: 204.987.2021 24 Hour Media Line: 204.992.2791