Higher-than-expected revenues and lower expenses in 2015 helped boost Abbotsford International Airport to one of its best years on record.
The city-owned airport’s 2015 financial report showed the airport made $2.31 million – more than half a million dollars in excess of what had been expected at the start of the year. The profit was also an increase in the 2014 total of $2.07 million.
Revenues were $243,000 higher than planned thanks to concession revenues and fuel sales both for Air Canada Rouge and car rental agencies. Expenses shrunk, thanks in part to another mild winter that allowed the airport to get by without the need for contracted snow removal.
“The airport is in fine fiscal shape,” airport general manager Parm Sidhu said. “We have a sustainable business model that empowers entrepreneurs and partners with the business sector.”
The operating profit was transferred to the airport’s capital reserves, along with $907,050 received through the sale of a hangar and two buildings on site.