May 4, 2021
FOR IMMEDIATE RELEASE
Charlottetown Airport Authority Releases 2020 Results
Charlottetown, PE – The Charlottetown Airport Authority Inc. (CAA) held its Annual Public Meeting this morning, where they released CAA’s 2020 Annual Report. The report outlines the challenging impacts that COVID-19 has had on YYG Charlottetown Airport’s passenger numbers, finances, and operations.
- 2020 saw only 71,480 passengers, down from 383,183 in 2019, a decline of 81%.
- Total revenues declined from $11.1 million in 2019 to $4.8 million in 2020.
- Capital investments were reduced from a planned expenditure of $3.3 million to $383 thousand.
- YYG went from planning for 4 airlines operating to 6 destinations at YYG in summer 2020, down to just 1 airline to 1 destination by the end of the year.
- YYG responded quickly to the pandemic inside the airport, implementing several new health and safety enhancements, and is in the process of completing the ACI Airport Health Accreditation.
- Although there remains a lot of uncertainty as to when air travel will start to recover, YYG predicts that it could take years to get back to 2019 levels.
“Although 2020 began with several exciting airline announcements and plans for an air terminal building expansion, the pandemic quickly erased any excitement and decimated air travel at YYG,” said Doug Newson, CEO, Charlottetown Airport. “The past year has certainly been the most challenging year in our airport’s history. The pandemic had a significant impact on our financial position, our day-to-day operations, and also the people that make up our team at YYG.”
CAA took the opportunity to thank all three levels of government for their support of YYG Charlottetown Airport over the past number of years, but more importantly, since the start of the pandemic.
“We are extremely grateful for the support received and announced to date by the federal government, including the wage subsidy and rent relief, and look forward to more announcements in the coming weeks regarding assistance under other programs for which we have applied,” said Newson. “The support coming for hardest hit sectors like ours is needed in order to recover and provide affordable connectivity to our Island.”
Newson commended the Province of PEI for their leadership and vision through the creation of an air access recovery fund to assist YYG in rebuilding air services for PEI. “We know that people will be eager to travel again, and when that day comes, YYG will work with key partners like the province to ensure we can provide a cost competitive environment for all our airline partners to rebuild air access options as quickly as possible,” added Newson.
The 2020 Annual Report can be found at: https://flyyyg.com/corporate/about-yyg/annual_reports/
About the Airport Authority
Charlottetown Airport Authority Inc. assumed operational and financial responsibility for the Charlottetown Airport on March 1, 1999. The Board of Directors now oversee the affairs of the airport with a mission to provide a safe, secure, and fiscally responsible airport that connects PEI to the world and drives economic growth. Prior to the pandemic, more than 383,000 passengers travelled through the airport on an annual basis, generating more than $103-million in total economic activity in Prince Edward Island.
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Doug Newson, CEO
Charlottetown Airport Authority Inc.