|By PR Newswire||
|March 19, 2014 11:12 AM EDT||
TORONTO, March 19, 2014 /CNW/ - The Greater Toronto Airports Authority (the "GTAA") today reported its financial and operating results for the fiscal year ended December 31, 2013. The results show a continuation of the improvement in aviation activity results experienced in 2012. Passenger volumes continued to grow during 2013 reflecting both the economic strength of the Greater Toronto Region, and the role of Toronto Pearson as Canada's largest airport and North America's second largest airport in terms of international passengers.
For the twelve months ended December 31, 2013, the GTAA reported total revenues of $1.1 billion. Total operating expenses in 2013 were $719.8 million, which included $157.8 million in ground rent and payments-in-lieu of real property taxes. Earnings before interest and financing costs were $397.7 million. After accounting for interest and financing costs, the GTAA recorded net income of $7 million, compared to net income of $13.5 million in 2012. Net income is reinvested in the Airport for new initiatives to improve Airport operations and customer service, to fund capital projects or to repay existing debt.
During the three-month period ended December 31, 2013, the GTAA recorded a net loss of $14 million, compared to a net loss of $31 million during the same period in 2012. Due to seasonal patterns in air traffic and operating expenses, expenses typically exceed revenues in the fourth quarter of each year.
In 2013, the GTAA reduced overall aeronautical fees by approximately 10 per cent from 2012 when measured as the average air carrier's cost per enplaned passenger. This 2013 fee reduction was announced as a three-year rate freeze, holding aeronautical rates constant from 2013 through 2015. This provides air carriers with greater rate certainty to facilitate their longer-term planning of air services offered at Toronto Pearson. The GTAA's 2013 aeronautical rates and charges are approximately 30 per cent lower than those charged in 2007, when measured as the average air carrier's cost per enplaned passenger.
A total of 36.1 million passengers travelled through the Airport in 2013, a 3.4 per cent increase compared to 2012. Passenger activity in the domestic sector increased by 5.4 per cent as compared to 2012. Transborder passenger activity increased by 4 per cent in 2013 as compared to 2012. International passenger activity also increased over the prior year, growing by 0.7 per cent in 2013. During 2013, when compared to 2012, air carriers serving Toronto Pearson increased service (on a net basis) on a total of nine routes, representing either completely new service or an increase in capacity on existing routes.
The GTAA's 2013 financial results are discussed in more detail in the Financial Statements of the GTAA for the years ended December 31, 2013 and 2012 and Management's Discussion and Analysis for the year ended December 31, 2013, which are available at www.torontopearson.com and on the Canadian Securities Administrators' website at www.sedar.com.
This news release contains certain forward-looking information, including statements regarding holding aeronautical rates constant from 2013 through 2015; providing air carriers with rate certainty; the delivery of continued improvements to customer service; the offering of greater flight frequencies to existing markets; and the increase of access to more global destinations. This forward-looking information is based on a variety of assumptions and is subject to risks and uncertainties. Please refer to the section titled "Caution Regarding Forward-Looking Information" contained in the GTAA's Management's Discussion and Analysis for the period ended December 31, 2013 for a discussion of such risks and uncertainties and the factors and assumptions related to the forward-looking information.
The GTAA is the operator of Toronto Pearson International Airport, the largest airport in Canada, the second largest airport in North America in terms of international traffic (international and transborder) and one of the largest airports in North America in terms of total passenger and air cargo traffic.
SOURCE Greater Toronto Airports Authority
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Oct. 22, 2016 05:00 AM EDT Reads: 2,465
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 22, 2016 05:00 AM EDT Reads: 654
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 22, 2016 04:30 AM EDT Reads: 795
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
Oct. 22, 2016 03:30 AM EDT Reads: 1,662
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will advance interoperability between connected devices from both groups, enabling the full operating potential of IoT and representing a significant step towards a connected ecosystem.
Oct. 22, 2016 02:45 AM EDT Reads: 1,148
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
Oct. 22, 2016 02:45 AM EDT Reads: 3,285
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Oct. 22, 2016 02:45 AM EDT Reads: 1,244
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
Oct. 22, 2016 02:00 AM EDT Reads: 1,391
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Oct. 22, 2016 01:45 AM EDT Reads: 942
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 22, 2016 01:30 AM EDT Reads: 9,608
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
Oct. 22, 2016 01:15 AM EDT Reads: 890
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Oct. 22, 2016 01:15 AM EDT Reads: 808
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 22, 2016 01:00 AM EDT Reads: 8,150
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Oct. 22, 2016 12:30 AM EDT Reads: 3,492
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 22, 2016 12:30 AM EDT Reads: 521