Business

YVR boss outlines $1.8 billion strategy

Vancouver Airport Authority boss Larry Berg shared details of YVR’s $1.8 billion in planned improvements at a Richmond Chamber of Commerce luncheon Thursday afternoon.

Berg, the authority’s president and CEO, outlined the 10-year strategy aimed at keeping the airport competitive and boosting the B.C. economy.

“More passengers using YVR means more flight choices, more tourists, more jobs for British Columbians,” Berg told a crowd of business leaders at the Sheraton Vancouver Airport Hotel.

Berg said planned capital projects range from maintaining airport infrastructure to enhancing customer service to improving safety and security.

It will all be funded through operating revenues, debt and the airport improvement fee. Effective May 1, the airport improvement fee will rise from $15 to $20. The fee for travel within B.C. and Yukon will remain at $5.

Berg noted other major airports in Canada, Toronto, Montreal, Calgary. Edmonton, have already raised their fee to $25.

“Over the last 20 years, we’ve raised the (airport improvement fee) only once, and that was in 2004 to help fund the Canada Line construction.”

Asked about runway addition or expansion, Berg acknowledged such a possibility, but said that's not something YVR is currently working on.

"To add an additional runway, we'd have to see considerable traffic growth that would be beyond our 10 or 15 year planning horizon at this stage," he said.

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