Airport Authority reports strong Financial and Operational results in 2014
Halifax, N.S. – Halifax International Airport Authority (HIAA) reflected on 2014 as a year of significant accomplishments at its annual public meeting today.
“In 2014, we set new records, landed new air service, upgraded infrastructure, embarked on a roadway improvement project that will change the airport landscape, and made a little history along the way,” says Joyce Carter, HIAA President & CEO. “Through our measured approach to fiscal management and steadfast attention to customer service, we strive to provide our community with a friendly, efficient and safe airport that instills community pride.”
HIAA generated $56.7 million in operating revenues ($53.6 million in 2013) and collected $34.1 million in airport improvement fees ($33.4 million in 2013), for total revenues of $90.8 million ($87.1 million in 2013). Total expenses for 2014 were $83.0 million ($80.1 million in 2013).
Revenues exceeded expenses by $7.8 million ($7.0 million in 2013), before consideration of defined benefit pension gains or losses. As a result of new accounting standards changes, these non-operating gains and losses have been separated from operating earnings in the financial statement presentation to reflect and isolate their expected volatility from year to year. After consideration of these gains and losses, the excess of revenues over expenses totalled $11.3 million in 2014 ($5.2 million in 2013). As always, the surplus is retained and reinvested in airport development to improve our facilities and services.
Passenger numbers rose 2.2 per cent in 2014, as Halifax Stanfield welcomed a record 3,663,039 passengers (3,585,864 in 2013). “Halifax Stanfield operates as one of the most critical pieces of transportation infrastructure in the region,” says Carter. “We continue to serve about half of all air travellers in Atlantic Canada and based on departures per capita, we are number one in the country.”
On the cargo side, a record 32,000 metric tonnes of cargo (up 8.5 per cent over 2013) was processed through Halifax Stanfield in 2014 (29,500 metric tonnes in 2013). A big part of that number is fresh lobster and seafood exports, and demand is growing, especially to Asia. “With our extended runway and new free trade agreements signed and in the works, we have many good reasons to be optimistic about the future of air cargo activity,” says Carter.
Infrastructure upgrades included completion of renovations to both the domestic/international and U.S. check-in areas, featuring a new state-of-the-art baggage handling system and a new self-serve baggage drop system. Halifax Stanfield is the first airport in North America to offer self-serve baggage drops for all passengers, receiving an Ingenious Award from the Information Technology Association of Canada for the system’s innovative use of technology to improve internal efficiencies and upgrade the travel experience.
The latest figures available (2013) show Halifax Stanfield International Airport is worth over $1.29 billion to the Nova Scotia economy on an annual basis and is responsible for a total of 13,130 full-time equivalent jobs, including 5,700 directly.
In 2014, Airports Council International recertified Halifax Stanfield as Airport Service Quality Assured – the international gold standard for passenger service excellence – making it one of only 17 airports in the world to reach this pinnacle of customer satisfaction.
The global Skytrax World Airport Awards passenger surveys rated Halifax Stanfield as the 3rd Best Airport in the World in its class (under five million passengers).
HIAA also reported on its Community Outreach Program that provided over $300,000 in financial and in-kind support to over 250 charities and community projects, including its three-year Signature Partnership Parker Street Food & Furniture Bank.
Click here to view HIAA’s 2014 annual report.