Winnipeg Airports Authority remains diligent in addressing customer needs within the context of today’s global economic environment.

For the six months ended June 30, 2009, approximately 1,703,000 passengers passed through the airport terminal, representing a 4.9% decrease over the same period in 2008.

During the second quarter airport campus activity saw Greyhound Canada reach 99% completion on Winnipeg’s new bus cargo facility while Canada Post construction steadily continued. Campus tenant, Standard Aero signed a 15-year agreement for more than $850-million to service engines powering WestJet's 737 next generation aircraft. The Government of Manitoba announced a reduction in aviation fuel tax for cargo flights from 3.2 cents per litre to 1.5 cents per litre as of July 1st and expanded the tax exemption for international flights to include all cargo flights to and from the United States. In support of further development of an Inland Port, the Governments of Canada and Manitoba committed more than $212 million in infrastructure funding for CentrePort Canada.

“Recognizing the changing environment our team focused early on to ensure our operation was as efficient as possible while diversifying revenue streams,” said Barry Rempel, President & CEO of Winnipeg Airports Authority. “Through responsible courses of action, we continue to do everything possible to ensure our organization is well positioned to take advantage of growth opportunities as the economy improves.”

Consolidated revenues were $19.6 million for the second quarter, an increase of 6.6% over the same period in 2008. Operating costs were $9.4 million for the quarter, an increase of 7.8 % from the previous year.

Earnings before interest, income taxes and amortization (EBITDA) were $10.2 million for the quarter, an increase of 5.5 % over 2008. EBITDA is used generally as a proxy to determine Winnipeg Airports Authority’s ability to service its debt obligations. Net income was $7.3 million for the quarter (2008 - $6.7 million).

Winnipeg Airports Authority is a non-share capital corporation responsible for the management and operation of Winnipeg James Armstrong Richardson International Airport and affiliate businesses. Net income is reinvested by WAA back into the community, primarily through airport development projects. WAA is self sufficient with taxpayers not directly involved in financing airport site redevelopment.

Winnipeg Airports Authority serves our region by providing value to our customers and community. A source of pride for our community, we strive to be a leader in its growth and development.

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