Toronto Pearson Airport sees a decade-long modernization plan

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

The Greater Toronto Airports Authority said it has begun the first phase of the acquisition Pearson LIFT, a plan to help the airport meet the 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 It saw 45 million passengers in 2023 and is expected to see about 65 million passengers annually in the early 2030s, GTAA said in a press release.

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

“Growth is coming 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 ready to make sure of Toronto Pearson … will not experience past difficulties that hinder its growth and competitiveness,” he said.

In the long term, Flint said he expects moderate growth PearsonAirport Improvement Fee considering the level of similar fees at other airports in the country.

The plan would 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.”

This Canadian Press report was first published on April 12, 2024.