Travelers at Toronto Pearson International Airport on March 10, 2023.Nathan Dennett/Canadian Press
Toronto’s Airport Authority has announced a multibillion-dollar plan to update and modernize Toronto Pearson Airport.
The Greater Toronto Airports Authority announced it has begun the first phase of its Pearson Lift procurement, a plan aimed at enabling the airport to meet growing demand for its services.
“This is the beginning of a 10-year investment in facilities and terminals across the airport,” said GTAA President and CEO Deborah Flint.
“After a number of years, we had aging and dilapidated assets across the airport complex, so we were able to systematically invest in them and not just restore them to a state of extensive renovation, but make them fit for the future. We’re going to invest to get back to where we are in the future.”
The GTAA said in a press release that it expects Pearson passenger numbers to reach 45 million passengers in 2023 and about 65 million passengers per year by the early 2030s.
“Toronto Pearson has responded to passenger needs by devoting extraordinary resources to many of its aging assets and facilities, which we believe will be a sustainable solution as passenger numbers are expected to increase. Not,” he said.
“Growth is coming to Pearson. It’s spreading throughout the global aviation industry and North America,” Flint said.
LIFT stands for Long-Term Investment in Facilities and Terminals and starts with a program that focuses on the “fundamentals,” Flint said.
The program will include modernization of existing airport assets, including high-speed taxi lanes, modernized airfield electrical lighting and control systems, and temporary terminal facilities, according to a press release. The plan also includes investments in electricity generation to help the airport meet its net-zero goals.
“After experiencing a surge in growth and recovery and recent facility challenges, we want to get ahead of the curve as much as possible and begin developing facilities that will help us expand sooner,” Flint said. .
These improvements are what the GTAA has begun procuring, and other projects are in the early planning stages, Flint said.
Flint said LIFT has been significantly impacted by the challenges of the past few years, as a surge in air traffic has caused delays across the industry.
“We are fully committed to ensuring that Toronto Pearson does not experience historical challenges that hinder its growth and competitiveness,” she said.
Flint said he expects some modest increases in Pearson’s airport improvement fees over the long term, given the level of similar fees at other airports around the country.
GTAA Chairman Doug Allingham said in a release that the plan is poised to generate billions of dollars in economic benefits.
“These needed investments will strengthen supply chains, open the door to new opportunities for Canadian businesses, and create good jobs right here in the GTA,” he said. “Together, these enable sustainable growth and competitiveness on a global scale.”
