Vancouver International Airport (YVR) has announced it will be increasing its Airport Improvement Fee (AIF) from $20 to $25 in order to meet forecasted growth.
The AIF was introduced in 1993 to pay for capital infrastructure projects such as terminals and runways, as the Canadian government does not provide funding to operate the airport.
“We recognise this might not be a popular decision with the public, but the increase to the AIF is absolutely necessary for the long-term financial health of the airport and the benefit of our community,” said Craig Richmond, President and CEO, Vancouver Airport Authority.
“It is our responsibility to be stewards of this airport and ensure that in 20 years we see a thriving airport, still making good on our public mandate – and that we have not tied the hands of future boards that would have to make drastic decisions on cutting back on construction or changing the level of service.”
The airport pointed out that its AIF is still among the lowest of the eight major Canadian airports, with only Ottawa International Airport collecting a lower fee of $23.
YVR has collected $2.2 billion from the AIF since its inception in 1993 and has spent $3.7 billion on capital projects during that same time frame.
