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Winnipeg Airports Authority Inc. 2005 Fourth Quarter & Annual Results

WAA released its unaudited consolidated financial results for the fourth quarter.


September 19, 2007
By Carey Fredericks

WINNIPEG, Jan. 25 /CNW/ – Winnipeg Airports Authority Inc. (WAA) today released its unaudited consolidated financial results for the fourth quarter and year ended December 31, 2005.

For the fourth quarter operating revenues of $9,225,000; (2004: $8,244,000) and Airport Improvement Fee (AIF) revenues of $4,735,000; (2004: $4,717,000) exceeded expenses before interest, taxes and amortization by $5,913,000 (2004: $6,306,000). For 2005, operating revenues of $37,071,000; (2004: $34,742,000) and Airport Improvement Fee (AIF) revenues of $19,635,000; (2004: $14,272,000) exceeded expenses before interest, taxes and amortization by $26,416,000 (2004: $21,658,000). The excess of revenue and AIF over expenses are used exclusively for required airport infrastructure and debt service.

"Manitobans propensity to travel continues to escalate and growth at our airport has exceeded all expectations. Records have been surpassed in both passenger and cargo volumes for the 2nd year in a row," noted Barry Rempel, President and CEO of WAA. "One of the fastest growing facilities in Canada, the airport team continues to focus on meeting customer needs in facilities that have outgrown its requirements while providing for our community's future through airport redevelopment."

Passenger traffic for the fourth quarter of 2005 (unofficial) was 772,000, an increase of 5.8% from 2004. Commercial aircraft movements for the fourth quarter were the same as 2004. Annual passenger traffic was 3,227,000, an increase of 6.5% from 2004, and commercial aircraft movements decreased by 0.2%.

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Winnipeg Airports Authority serves our region by providing value to our customers and community. A source of pride for our community, we strive to be a leader in its growth and development.