Winnipeg Airports Authority Inc. 2017 Third Quarter Results (Unaudited)
October 31, 2017
WINNIPEG, Manitoba – October 31, 2017 – The third quarter of 2017 continued to be strong for Winnipeg Airports Authority (WAA).
With July and August being the two busiest months on record, passenger totals increased by 7.4% percent compared to the third quarter of 2016.
Consolidated revenue was $33.2 million for the third quarter, compared to $31.2 million for the same period in 2016. Earnings before interest, depreciation and taxes were $16.2 million, down from $17.2 million in 2016, but ahead of budget for 2017. This expected reduction is a result of WAA prioritizing investments in 2017 that will benefit the company and airport for the long-term, including our Business Transformation initiative, systems upgrades and new positions in the company.
“Leading transportation innovation and growth in a fiscally responsible manner is what drives WAA,” said Barry Rempel, President and CEO of the Winnipeg Airports Authority. “With our airport partners, we have been able to deliver on the needs of our community, while re-investing in the airport for long-term success.”
In July the airport welcomed the first wave of Canada’s best young athletes to Winnipeg to pursue their dreams at the Canada Summer Games. In August, Emad Mishko Tamo, a young Yazidi boy, was reunited with his mother at the airport, a testament to the power of social media. In September, DHL, a world postal and logistics leader, began daily weekday service connecting Winnipeg to its hub in Cincinnati, Ohio.
This month marks the start of charter season, with travellers having the choice of 15 direct service sun destinations this winter. In November, WAA will have a new food and beverage option for travellers, as Flight Club is scheduled to open. The new restaurant, located in the Arrivals Hall, will be the first of its kind in North America and offer visitors an herb and seed inspired menu, along with a selection of cold-pressed juices.
About Winnipeg Airports Authority Inc.
Winnipeg Airports Authority Inc. is a non-share capital corporation meaning all net revenue is reinvested back into the company. WAA is responsible for the management and operation of Winnipeg Richardson International Airport, the Iqaluit International Airport and other affiliated businesses. WAA is a leader in transport innovation and growth, providing excellent airport services and facilities in a fiscally prudent manner. WAA is one of Manitoba’s Top 25 Employers for 2017, the sixth year in row. Learn more at WAA.ca/About.
Director, Corporate Communications & Public Affairs
Winnipeg Airports Authority Inc.
24 Hour Media Line: 204.992.2791
Connect with us on Twitter @YWGairport