The Winnipeg Airports Authority turned a profit in 2023 as passenger numbers continued to bounce back following pandemic restrictions.
According to annual financial statements published Thursday, the organization that operates Richardson International Airport posted a $14.9 million profit last year.
That’s a turnaround from 2022, when the airports authority posted a $5.5 million loss.
“This improvement is a result of stronger revenue growth despite an increase in operating expenses, driven by persistent inflation and the additional impact on key contract renewals,” WAA president and CEO Nick Hays and chief financial officer Nicole Stefaniuk write in the annual financial report.
In 2023, 4.1 million passengers passed through Richardson Airport. That’s 91 per cent of the passenger volume in 2019, the final full year before the pandemic, when 4.5 million passengers flew in and out of Winnipeg.
The WAA also made a small dent in its long-term debt last year. It stood at $651 million at the end of 2023, down from $663 million a year earlier.