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. We continued to work with the Government of Canada in 2017 to address potential improvements and we look forward to furthering this conversation. However, we remain strongly opposed to the idea of selling Canada’s major airports to private, for-profit investment firms.
Our unique, not-for-profit governance model is the key to our success and is the appropriate model for Canadian airport authorities. YVR has been voted the Best Airport in North America for a record nine years in a row and this incredible accomplishment stems from our community-based nature. YVR operates like a private company: we are financially independent, receiving no government funding while having to compete and innovate. But instead of providing returns to shareholders we reinvest all proceeds back into improving the airport for everyone.
The result: we are one of North America’s fastest-growing major international airports. We are one of the most financially successful airports in the world, having received a AA credit rating for 12 consecutive years. And we are a well-known community partner—providing economic and social benefits to the province, while leading the business community with innovative new solutions such as our new Musqueam Indian Band – YVR Airport Sustainability & Friendship Agreement.
Our unique model has been a resounding success and has brought considerable benefits to B.C. and Canada. Our commitment is to maintain this success and to do this we will continue to deliver an exceptional airport experience for our communities, passengers and partners.