COVID-19 disrupted the airport sector’s “relatively stable” and resilient business model, as Canadian airports have added around $3.2 billion in combined debt, DBRS Morningstar said in an analysis note on Monday.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“The Canadian government has not demonstrated a willingness, or perceived a material need, to provide significant financial support to Canadian airports,” the agency stated.Article content That fee similarly rose at Montreal’s Pierre Elliott Trudeau International Airport from $30 to $35 in 2021. The Regina Airport Authority plans to hike airport improvement fees by $10 per departing passenger to $30 on April 1.
“The elevated pressure for Canadian airports to raise fees reflects the combined effect of the increased leverage during the pandemic and the unsubsidized and not-for-profit nature of the Canadian airport business model,” the analysis note stated.