The Vancouver International Airport announced Thursday it91裸聊视频檚 increasing the airport improvement fee.
The charge, included in the taxes on each departing ticket, will rise from $20 to $25 for passengers travelling outside of the province, effective Dec. 12 for travel from Jan. 1, 2020 onward.
Passengers travelling within B.C. and to the Yukon will continue to pay the discounted rate of $5.
Craig Richmond, president and CEO of the Vancouver Airport Authority, said the increase might not be popular, but it91裸聊视频檚 91裸聊视频渁bsolutely necessary91裸聊视频� for the airport91裸聊视频檚 long-term financial health.
91裸聊视频淲hen we looked out at our capital asset requirements, our debt load and interest coverage ratio, our anticipated passenger traffic and thus aeronautical and non-aeronautical revenue, we determined an increase is necessary to ensure the long-term financial health of the airport,91裸聊视频� Richmond said, making the announcement in an address to the Greater Vancouver Board of Trade.
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According to a news release, YVR earns revenue from three main sources: aeronautical revenue (25 per cent), non-aeronautical revenue (44 per cent) and the airport improvement fee (31 per cent), as of 2018.
91裸聊视频淚f we took away the [fee], YVR wouldn91裸聊视频檛 be able to keep up,91裸聊视频� Richmond said. 91裸聊视频淲e wouldn91裸聊视频檛 be able to make sound decisions that have the success of future generations in mind or meet regulatory requirements.91裸聊视频�
Infrastructure would wear down, the passenger experience would decline and people would choose other airports for connections, he said.
The fee will still be one of the lowest among the eight major Canadian airports, with only the Ottawa International Airport collecting a lower fee of $23.
| Screenshot from Vancouver Airport Authority backgrounder. |
The fee was first introduced in 1993 and can only be used to pay for capital infrastructure projects, such as terminals and runways. In 2012, it went up from $15 to $20.
YVR has collected $2.2 billion from it and spent $3.7 billion on capital projects since its inception.
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karissa.gall@blackpress.ca
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