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
Breast cancer screening should start at age 40, Canadian Cancer Society says
The Canadian Cancer Society says all provinces and territories should lower the starting age for breast cancer screening to 40.
DEVELOPING Live updates as Stormy Daniels testifies at Trump hush money trial
Adult film star Stormy Daniels is on the stand a second time Thursday as former U.S. president Donald Trump’s hush money case continues in Manhattan. Follow live updates here.
Ontario family receives massive hospital bill as part of LTC law, refuses to pay
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Canadian-Israeli man shot dead in Egypt; claim links killing to Gaza
A Canadian man 'of Jewish Israeli descent' has been shot dead in the Egyptian city of Alexandria in a suspected criminal case, a security source said, while a previously unknown militant group said it carried out the attack in reaction to the war in Gaza.
Here are the ultraprocessed foods you most need to avoid, according to a 30-year study
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
Ontario man frustrated after $3,500 paving job leaves driveway in shambles
An Ontario man considering having his driveway paved received a quote from a company for $7,000, but then, another paver in the neighbourhood knocked on his door and offered half that rate.
Why these immigrants to Canada say they're thinking about leaving, or have already moved on
For some immigrants, their dreams of permanently settling in Canada have taken an unexpected twist.
Bank of Canada says financial system is stable, but risks remain
The Bank of Canada says the Canadian financial system is stable, but risks remain due to debt servicing costs among households and businesses and stretched valuations of financial assets.
BREAKING Sheldon Keefe out as head coach of Toronto Maple Leafs
The Toronto Maple Leafs have fired head coach Sheldon Keefe. The team made the announcement Thursday after the Original Six franchise lost to the Boston Bruins in seven games in the first round of the Stanley Cup playoffs.