Revenue up, cargo down in 2009 for HIAA

HALIFAX, N.S. — Despite 2009 being a year of global economic uncertainly, the Halifax International Airport Authority was still able to finish the year with a surplus.

HIAA’s total revenue for the year was $62.1 million, which exceeded expenses by $3.3 million. The organization has retained and reinvested the surplus in airport operations and development, according to officials.

“In an unsettling and uncertain year and in an industry especially sensitive to economic fluctuation, Halifax International Airport Authority delivered a positive bottom line and continued to manage and develop Halifax Stanfield International Airport in a prudent and forward-looking manner,” says Tom Ruth, HIAA’s president and CEO. “When the impact of the global financial downturn became clear, we immediately revised our revenue forecasts and adjusted our business plan. With our prudent planning, we were able to continue to plan for the future and deliver on infrastructure improvements.”

Last year, HIAA invested $63.6 million in its multi-year airport improvement program, including opening a five-storey 2,300-space parkade and rental car facility; continuing construction of a combined services complex to house HIAA’s emergency response services and airfield maintenance teams; completion of upgrades to the terminal building; and Phase Five of the airfield restoration program.

In 2009, about 26,910 metric tonnes of cargo was processed through Halifax Stanfield International Airport, compared to 27,950 metric tonnes in 2008, a drop of 3.7%.

“Although our…air cargo numbers were down overall in 2009, our airport bucked the global trend by more than doubling our international cargo business,” says Ruth. “We have worked hard to position ourselves at the leading edge of the economic recovery so we can continue to fulfill our role as one of the province’s major economic engines”

To view HIAA’s 2009 annual report, visit www.hiaa.ca/annualreport/2009/.