WINDSOR, Ont. -- Windsor’s city-owned airport suffered a loss of more than $200,000 in the first half of this year — but city officials say that’s to be expected.
“It’s consistent with previous operations,” said Mayor Eddie Francis.
According to a financial statement that council received on Monday, Your Quick Gateway ended the period of January to June with a loss of $212,937.
YQG manager Federica Nazzani said the airport’s budget was in a similar situation at this time in 2010.
“It’s absolutely normal,” Nazzani said. “We have a very seasonal business.”
Nazzani said the airport tends to incur heavier expenses during the winter and this year also dealt with one-time expenses such as the launch of Porter Airlines in Windsor.
The airport’s projected total budget for 2011 predicts it will be about $9,500 in the black by year’s end.
Nazzani said the airport finished 2010 with a loss of about $200,000, but earned money in 2007, 2008 and 2009.
“We’re on track,” she said. “We’re actually doing very well.”
Nazzani said the airport has had cumulative retained earnings of about $300,000 since 2007.
By way of comparison, she said that when the city took over operations from Serco Aviation Services four years ago, the airport had cumulative retained earnings of negative $1.2 million.
According to Francis, the city has already considerably “turned around” the airport’s fortunes.
He pointed to recent developments at the airport and the facility’s strategic value to the area’s future.
“It plays a vital role for this city, this community and this region. It’s an economic driver.”
Francis noted the aircraft maintenance, repair and overhaul hangar that’s being built at the airport, and the studies underway on establishing an air cargo hub.
The airport’s master plan is scheduled for discussion at the economic development standing committee on Wednesday.
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