The Toronto Airports Authority has announced a “decade of investment” in Pearson Airport

TORONTO – The Toronto Airports Authority has announced a multi-billion dollar plan to upgrade and modernize Toronto Pearson Airport.

The Greater Toronto Airports Authority (GTAA) has launched the first phase of procurement for Pearson LIFT, a plan to help the airport meet growing demand for its services.

“This is the beginning of a decade of investment in our facilities and airport terminals,” GTAA President and CEO Deborah Flint said.

“After many years of having tired and aging assets at the airport, we will be investing in them systematically, not just bringing them into a state of major repair, but investing to accommodate them. the future.”

Pearson saw 45 million passengers in 2023 and is expected to see about 65 million passengers annually in the early 2030s, the GTAA said in a news release.

“Toronto Pearson has met the needs of passengers by deploying exceptional resources on many of its aging assets and facilities, which is not a sustainable solution to the expected increase in passenger traffic,” the statement said.

“Growth comes to Pearson. It extends to the global aviation industry and North America,” Flint said.

LIFT, which stands for Long-Term Investment in Facilities and Terminals, begins with a program that focuses on the “fundamentals,” Flint said.

The program provides for the modernization of the airport's existing assets, including high-speed taxiways, upgraded airfield lighting and control systems, and intermediate terminal facilities. The plan also includes investments in electricity generation to help the airport meet its net-zero goals.

“After the pace of growth and recovery, and the challenges we've had with our recent facilities, we want to move forward as quickly as possible and start developing facilities that will help us expand as quickly as possible,” Flint said.

Those improvements will begin the GTAA's acquisition, and other projects are in the early planning stages, Flint said.

Flint said LIFT has been acutely aware of the challenges of the past few years, as the growth of air travel has led to delays across the industry.

“We are confident that Toronto Pearson … will not experience the challenges of the past that have hindered its growth and competitiveness,” he said.

In the long term, Flint said he expects the Pearson Airport Improvement Fee to increase somewhat, given similar fee levels at other airports around the country.

The plan is poised to generate billions of dollars in economic benefits, GTAA Chairman Doug Allingham said.

“These needed investments will strengthen the supply chain, open new opportunities for Canadian businesses and create good jobs right here in the GTA,” he said. “Together, they enable sustainable growth and competitiveness on a global scale.”

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