Airport Traffic, Revenues Down in Fourth Quarter Results

The Winnipeg Airports Authority released their fourth quarter results for 2009 on Wednesday.

Passenger traffic was down 2.95% at James Richardson International Airport from the same period last year. Revenues were also slightly down — $19.9 million, compared to $21.3 million in 2008 during the same period.

Barry Rempel, President and CEO of Winnipeg Airports Authority, said the economy has had a dramatic impact on airlines. “With airlines cutting capacity, there are fewer seats available for travelers in the Winnipeg market,” said Rempel. “In response, we were able to implement cost-constraint measures and increase other campus revenue which positively impacted our bottom line, ensuring our corporation’s continued financial stability.”

Operating costs were $10.3 million for the quarter, a decrease of $0.5 million from the previous year. Earnings before interest, income taxes, depreciation and amortization (EBITDA) remained strong at $9.6 million for the fourth quarter, a decrease of $0.8 million compared to 2008.