Our Business Model
In 2016, the Minister of Transport released a report titled Pathways: Connecting Canada’s Transportation System to the World, a review of the Canada Transportation Act (CTA). The report identifies priorities and potential actions that will support Canada’s long-term economic well-being.
Vancouver Airport Authority welcomes a number of recommendations in the report, including liberalizing air bilaterals, improving security screening and offering our passengers Arrivals Duty Free. However, we strongly oppose the recommendation to privatize Canada’s major airports. Canada’s unique, not-for-profit airport model is the key to our success. Under this model, we serve our regions through a community-based Board of Directors whose mandate is to provide economic and social benefits—with no government funding. Thanks to this model, YVR has become one of North America’s most efficient airports (2016 Airport Benchmark Report, Air Transport Research Society) and is one of the most financially successful airports in the world, having received a AA credit rating for 11 consecutive years. YVR is a world-leader because, since the inception of the Vancouver Airport Authority in 1992, we constantly reinvest our success back into the airport—creating a $3.3 billion asset that has already been paid for by passengers, partners and airlines.
We look forward to working with the Government of Canada in 2017 to address this important issue.