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A leader in Atlantic Canada: Fredericton International Airport leads traffic growth in 2017, bringing jobs and economic growth
May 15, 2018
In 2017, New Brunswick’s provincial capital was home to the fastest growing airport in Atlantic Canada. The Fredericton International Airport (YFC) hosted almost 398,000 passengers in 2017, a 5.23% jump over the previous year giving it the largest year-over-year percentage increase at any of Atlantic Canada’s major airports. That growth was made even more remarkable by being the eighth consecutive year of record-breaking traffic growth at YFC.
At the Fredericton International Airport Authority’s Annual General Meeting this morning, though, the theme was one of community impact. As President and CEO Johanne Gallant explained, “we are grateful to our air carrier partners for their commitment to grow the market in Fredericton by adding new routes and capacity. This growth is great news for the entire community, because it brings more economic growth and more jobs to our region.”
That message was reinforced by the results of a 2017 economic impact study showing that the airport supports 662 full-time equivalent (FTE) jobs throughout the region with a combined labour income of $25.8 million every year and generates $38.8 million in GDP annually.
Growth in passenger traffic in 2017 was helped by the launch of the airport’s newest carrier, Porter Airlines, as well as strong traffic with Air Canada, WestJet, and the two sun charter airlines, Sunwing and Air Transat.
The airport authority presented its financial statements for the year at the meeting, showing strong revenues and a continued focus on fiscal responsibility. As a not-for-profit corporation, all revenues generated are reinvested into the airport and through careful planning, the airport authority is able to contribute $12 million towards the recently announced terminal expansion and renovation project. The remainder of the $30 million project is funded by the provincial and federal governments.
Construction on the terminal expansion and renovation project is expected to begin in August 2018 and span 30 months. The airport authority is committed to ensuring air service is not negatively impacted during construction. When complete, the airport will be an ambassador for the capital region and province, helping to foster further economic growth.
A refresh of the Fredericton International Airport’s brand was also revealed. The design builds upon the airport’s connection to the community while modernizing the look and feel of the brand.
Ms. Gallant thanked Andrew Steeves, outgoing Board Chair, for his eight years of dedicated service and the authority welcomed Mary Goggins, the incoming Board Chair. Mr. Steeves will remain with the Board for the next year in the capacity of Past Chair.
The Fredericton International Airport (YFC) serves approximately 398,000 passengers annually and offers direct daily service to the major hubs of Toronto (Pearson and Billy Bishop), Montreal, Ottawa, and Halifax, along with seasonal service to the popular sun destinations Cancun, Cayo Coco, Cayo Santa Maria, Puerto Plata and Punta Cana. Through direct, indirect, and induced economic activity, YFC generates 662 jobs, $38.8 million in GDP, and $25.8 million in labour income for New Brunswick every year.