YVR discusses new targets and means for addressing growth at annual GVBOT event
RICHMOND, BC, Jan. 23, 2018 /CNW/ - Today, in an annual address to the Greater Vancouver Board of Trade (GVBOT), Craig Richmond, President & CEO, Vancouver Airport Authority, announced another year of record-breaking growth at Vancouver International Airport (YVR). In 2017, YVR welcomed more than 24 million passengers, an 8.4 per cent increase.
"It's hard to believe that we have exceeded expectations and are only one million shy of our original goal of 25 million passengers by 2020. This growth puts YVR as one of the fastest growing airports in North America," said Richmond at the event. "Looking ahead, we are seeing exciting new destinations and increased frequencies. We are here to connect B.C. proudly to the world and we will continue to generate lift by facilitating the ambitions and endeavors of British Columbians."
Also in his address, Richmond shared new passenger forecasts. Growth projections discussed now show 31 million passengers by 2022, with 29 million passengers targeted for 2020. YVR has also updated its target to serve 144 destinations by 2020?currently YVR connects people and businesses to 127 non-stop destinations worldwide. The change in forecasting is attributed to a number of factors including a strong B.C. economy and an impressive year for new air services due to ConnectYVR?YVR's five year rates and charges program.
In keeping with YVR's innovative approach to business and forward-looking strategy, Richmond spoke about a number of unique ways to address the growth, including:
YVR is owned and operated by Vancouver Airport Authority, a not-for-profit organization that is governed by a non-political Board of Directors appointed from the community. Every dollar earned by the Airport Authority is reinvested into the operation and growth of the airport to improve facilities, enhance services, reduce costs and support community initiatives.
YVR plays a key role in driving economic benefits to the region. This includes helping to facilitate $16.5 billion in total economic output, $8.4 billion in total Gross Domestic Product, $1.4 billion in total government revenue across B.C. and more than 24,000 jobs on Sea Island.
About Vancouver Airport Authority
Vancouver Airport Authority is a community-based, not-for-profit organization that manages Vancouver International Airport (YVR). Canada's second busiest airport, YVR served 24.1 million passengers in 2017. Fifty-six airlines serve YVR, connecting people and businesses to more than 127 non-stop destinations worldwide. In 2016, YVR received CAPA Centre for Aviation's prestigious Airport of the Year Award and was voted Best Airport in North America for the eighth consecutive year in the Skytrax World Airport Awards in 2017. Vancouver Airport Authority is a dedicated community partner and in 2017 donated more than $1,000,000 to local organizations. We are committed to creating an airport that British Columbia can be proud of: a premier global gateway, local economic generator and community contributor.
SOURCE Vancouver Airport Authority
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