Halifax, Nova Scotia—Halifax International Airport Authority (HIAA) reflected on 2014 as a year of significant accomplishments, including an 8.5 percent bump in cargo throughput.
“In 2014, we set new records, landed new air service, upgraded infrastructure, embarked on a roadway improvement project that will change the airport landscape, and made a little history along the way,” says Joyce Carter, HIAA President & CEO. “Through our measured approach to fiscal management and steadfast attention to customer service, we strive to provide our community with a friendly, efficient and safe airport that instills community pride.”
HIAA generated $56.7 million in operating revenues ($53.6 million in 2013) and collected $34.1 million in airport improvement fees ($33.4 million in 2013), for total revenues of $90.8 million ($87.1 million in 2013). Total expenses for 2014 were $83.0 million ($80.1 million in 2013).
Revenues exceeded expenses by $7.8 million ($7.0 million in 2013), before consideration of defined benefit pension gains or losses. As a result of new accounting standards changes, these non-operating gains and losses have been separated from operating earnings in the financial statement presentation to reflect and isolate their expected volatility from year to year. After consideration of these gains and losses, the excess of revenues over expenses totalled $11.3 million in 2014 ($5.2 million in 2013). As always, the surplus is retained and reinvested in airport development to improve our facilities and services.
On the cargo side, a record 32,000 metric tonnes of cargo (up 8.5 per cent over 2013) was processed through Halifax Stanfield in 2014 (29,500 metric tonnes in 2013). A big part of that number is fresh lobster and seafood exports, and demand is growing, especially to Asia. “With our extended runway and new free trade agreements signed and in the works, we have many good reasons to be optimistic about the future of air cargo activity,” Carter said.
The latest figures available (2013) show Halifax Stanfield International Airport is worth over $1.29 billion to the Nova Scotia economy on an annual basis and is responsible for a total of 13,130 full-time equivalent jobs, including 5,700 directly.
To view HIAA’s 2014 annual report online visit www.flyhalifax.com.