GTAA hints at more fee cuts

In an effort to remain competitive and grow market shares, the Greater Toronto Airports Authority will effective January 2009 slash landing fees for cargo operators by 25 per cent.
The move will follow a three per cent cut in landing fees across the board announced in January this year.
“We’ve also embarked upon a three-pronged marketing development initiative aimed at boosting our global competitiveness while improving our corporate sustainability,” Lloyd McCoomb, the authority’s president and CEO, told members of the Mississauga Board of Trade last week.
More fee reductions are also in the pipeline, aimed at seeking to partly offset high jet fuel prices carriers are facing, while seeking to boost the airport’s own revenues through projected economies of scale, he said.
GTAA is the operator of Canada’s busiest airport, Toronto’s Pearson International, which accounts for a third of all airport movements in the country. Despite being among the few airport jurisdictions in the world that is heavily taxed and that has to pay a rent, and despite being recently named as being among the most uncompetitive airports worldwide— a charge the airport operator has disputed— the airport generated revenues of $26.4 billion.
At present some 76 airlines fly through the airport, with recent additions being Jet Airways, Emirates airlines and Icelandair, while others such as KLM, Lufthansa and Air China have added capacities on this route.
The event was presided over by Jake Dheer, chairman, MBoT, as part of the board’s ongoing executive speaker series.
The board leads a business mission to India from October 17-29, 2008, with cities on the itinerary including Bangalore, Chennai, Mumbai and New Delhi.
26/06/08 Sunil Rao/South Asian Focus, Canada

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Categories: Airports Jun 2008, Cargo Jun 2008, Foreign Jun 2008, Jet Airways Jun 2008