Montreal’s airport authority estimates that it will have a shortfall of $300 million for 2020, as low travel demand takes a financial toll on airports nationwide.
The airport authority is also announcing that it will seek leniency from its creditors to satisfy certain requirements for its bond agreements in 2021 and 2022.
ADM Aeroports de Montreal has already raised its fees for this year in an effort to ensure its operations can continue, it said in a news release.
Airport improvement fees, which the agency charges to departing passengers at Montreal-Pierre Elliott Trudeau International Airport, rose to $35 from $30 on Feb. 1.
Additional fees for airlines and cargo operators have already been implemented or will be in the coming months, the agency said.
In a statement, Philippe Rainville, president and CEO of ADM Aeroports de Montreal, said he hopes the government will soon provide more financial assistance to the air sector.