Toronto Port Authority (TPA) reported that all of its business units were profitable on an operating basis in 2013, contributing to another strong year for TPA. Billy Bishop Toronto City Airport generated income, including Airport Improvement Fees, of $18.0 million. Port Operations reported operating income of $1.1 million, down slightly compared to 2012 operating income of $1.4 million, and the Outer Harbour Marina’s operating income increased in 2013 to $1.4 million, up from $1.3 million the year prior. Overall net income reached $13.7 million for fiscal 2013, down from the $19.6 million of net income reported in 2012. Mark McQueen, TPA’s Board Chairman said “TPA’s solid financial performance has provided the means to invest in infrastructure improvements that are critical to Toronto’s tourism, logistics, transportation and construction industries. The pedestrian tunnel at Billy Bishop Toronto City Airport is one such example and we are very pleased with the significant progress that has been made on the project to date.”
Since 2006, Billy Bishop Toronto City Airport has seen strong year-over-year growth in passenger numbers and in 2013 was named by the Skytrax World Airport Awards as one of the world’s best airports.