VANCOUVER ISLAND, Sept. 19, 2013 /CNW/ - The Comox Valley Airport (YQQ)
marked a successful 2012/13 fiscal year with a six per cent increase in
passenger numbers and a surplus of $564,518, reported CEO Fred Bigelow
at YQQ's Annual Public Meeting.
"These numbers surpass our previous passenger record prior to the
economic downturn, significantly outperforming the average 1.3 per cent
growth experienced by airports across North America during the same
time period," confirmed Bigelow.
The Comox Valley Airport served 327, 927 passengers in 2012, the highest
in YQQ history. However, Bigelow cautioned that much of that growth
can be attributed to an additional charter route from Air Transat that
ceased operating out of Comox for the 2013 winter season. Bigelow also
explained that while WestJet's new Encore operated route out of Nanaimo
is a positive development for air service overall on Vancouver Island,
it will initially impact YQQ's passenger numbers given that WestJet is
the airport's largest commercial carrier.
"While we have no doubt that the Comox Valley Airport will continue to
perform well and maintain a healthy financial position in the years
ahead, we are being diligent in our financial planning to ensure that
future operating revenue is not dependent on such a high rate of
growth," explained Bigelow.
Record breaking passenger numbers for 2012 helped contribute to the
almost 33 per cent in additional revenue earned over the previous
fiscal year. YQQ also reported an increase of $564,518 in its net
assets for a total of $14.2 millionin 2013.
"The Comox Valley Airport Commission's Board of Directors is extremely
pleased with the financial performance of the airport and is confident
that YQQ will continue to be in a healthy fiscal position in the years
to come," said Board Chair Linda Oprica.
Additional highlights for the 2012/13 fiscal year include $183,000
earned in fuel revenues and an operational excellence award from Shell
Canada for outstanding performance in the safe delivery of jet fuel.
The airport also launched a new website with enhanced design,
navigation and functionality and a new flight tracking feature for an
improved customer experience. Cell phone service at the airport has
improved substantially with the addition of a new cell phone tower on
airport land leased to Telus by YQQ.
Objectives for the coming year include removing barriers to air service
development in order to fulfill the Comox Valley Airport's vision of
expanding YQQ's scheduled air services network. In support of that
goal, the airport attended various airline headquarter meetings in
2012/13 and presented business cases to five airlines at the Airport
Council International - North America Jumpstart conference in
Further details on YQQ's goals, objectives and achievements can be found
in the 2013 Accountability Report posted on the Comox Valley Airport's
Website at: www.comoxairport.com under About Us/Publications
The Comox Valley Airport (YQQ) is operated by the Comox Valley Airport
Commission (CVAC), which was established in 1996 as a non-share capital
and not-for-profit organization to operate the civil aviation
facilities, including the terminal and apron, at YQQ. The airfield and
its associated systems, including air traffic control, are operated by
the Canadian Air Force at 19 Wing Comox on a continuous 24-hour basis.
SOURCE: Comox Valley Airport