Winnipeg Airports Authority turned a profit in 2023: report
The Winnipeg Airports Authority (WAA) officially turned a profit in 2023 – the first time since the start of the pandemic.
According to the organization’s 2023 Financial Report, it ended the year with a net income of $14.9 million - a big improvement over the $5.5 million loss noted in 2022.
WAA said the positive development is a result of “stronger revenue growth despite an increase in operating expenses, driven by persistent inflation and the additional impact on key contract renewals.”
WAA also experienced significant growth in the domestic sector and said summertime was particularly notable.
Last year, Winnipeg Richardson International Airport welcomed around 4.1 million passengers, which is a 35 per cent increase from 2022, and around 91 per cent of its 2019 numbers.
Revenue for the year also ended on a positive note with $163.9 million, which is a $32.1 million increase from 2022.
“The change is attributed to an overall increase in capacity as airlines added seats in the market to meet pent-up demand,” said WAA.
WAA also paid down some of its total bond debt, ending the year at $638.5 million – compared to 2022’s $650 million.
According to a press release from WAA released Thursday, passengers flying out of Winnipeg in 2023 could choose from 47 non-stop destinations and had 12 per cent more routes available to select than in the previous year.
CTVNews.ca Top Stories
'A beautiful soul': Funeral held for baby boy killed in wrong-way crash on Highway 401
A funeral was held on Wednesday for a three-month-old boy who died after being involved in a wrong-way crash on Highway 401 in Whitby last week.
'Sophisticated' cyberattacks detected on B.C. government networks, premier says
There has been a "sophisticated" cybersecurity breach detected on B.C. government networks, Premier David Eby confirmed Wednesday evening.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
Biden says he will stop sending bombs and artillery shells to Israel if they launch major invasion of Rafah
U.S. President Joe Biden said for the first time Wednesday he would halt shipments of American weapons to Israel, which he acknowledged have been used to kill civilians in Gaza, if Prime Minister Benjamin Netanyahu orders a major invasion of the city of Rafah.
Rookie goalie Arturs Silovs to start for Canucks in Game 1 vs. Oilers
Rookie goalie Arturs Silovs will start in net for the Canucks as Vancouver kicks off a second-round series against the Edmonton Oilers Wednesday night.
Nijjar murder suspect says he had Canadian study permit in immigration firm's video
One of the Indian nationals accused of murdering British Columbia Sikh activist Hardeep Singh Nijjar says in a social media video that he received a Canadian study permit with the help of an Indian immigration consultancy.
Pfizer agrees to settle more than 10K lawsuits over Zantac cancer risk: Bloomberg News
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Quebec premier defends new museum on Quebecois nation after Indigenous criticism
Quebec Premier Francois Legault is defending his comments about a new history museum after he was accused by a prominent First Nations group of trying to erase their history.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.