Changes in flight schedules continue to take a bite out of passenger traffic at Winnipeg’s Richardson International Airport, the Winnipeg Airports Authority Inc. said today.
The WAA said passenger traffic volumes were down 1.2 per cent in the third quarter of this year from the same period in 2012. The decline continued a trend which also saw volumes fall by three per cent in the first quarter and by two per cent in the second quarter of the year.
"As air carriers restructure schedules in preparation for new aircraft arrivals in 2014, the impact on our market is to temporarily reduce travel options for passengers in some of our key markets," said Barry Rempel, the WAA’s president and chief executive officer. "Capacity decreases limit growth, increase travel costs and result in passengers choosing to travel less frequently."
Despite the decline in passenger volumes, the WAA still saw its third-quarter revenues grow to $24.4 million from $22.2 million a year earlier.
However, earnings before interest and taxes dipped to $4.4 million from $4.5 million, and cash generated from operations, before changes in non-cash working capital, fell to $12.1 million from $13.0 million.
The WAA is the not-for-profit capital corporation which manages and operates the airport and its affiliated businesses.