Toronto Pearson unveils multi-billion dollar modernization plan

The Greater Toronto Airports Authority (GTAA) launched the first phase of procurement for Pearson LIFT on Friday, a multibillion-dollar plan to help Canada's largest 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 in a press release.

Spending more money at the airport costs travelers more. Flint said he expects the Pearson Airport Improvement Fee to increase somewhat as the plan moves forward.

Airplanes at Toronto Pearson International Airport. (Photo credit: redtea / iStock / Getty Images Plus)

“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 served 45 million passengers in 2023. That number is expected to increase to about 65 million annually over the next decade.

“Growth comes to Pearson. It's coming in the global aviation industry and in North America,” Flint said. “Toronto Pearson has met the needs of passengers by deploying exceptional resources to many of its aging assets and facilities, which is not a sustainable solution to the expected increase in passenger traffic,” he said.

LIFT, which stands for Long-Term Investment in Facilities and Terminals, will begin by modernizing the airport's existing assets, including high-speed taxiways, improved airfield lighting and control systems, and intermediate terminal facilities.

“The pace of growth and recovery, after the recent challenges with our facilities, we want to get ahead as much as possible and start developing facilities that will help us expand as quickly as possible,” he said. said Flint.

Pearson de Toronto Airport (photo credit: Aéroport Pearson de Toronto)

The GTAA CEO said LIFT has been acutely aware of the challenges of the past few years, as post-pandemic air traffic growth 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.

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