Latest news with #DeborahFlint
Cision Canada
06-08-2025
- Business
- Cision Canada
GTAA REPORTS 2025 SECOND QUARTER RESULTS
TORONTO, Aug. 6, 2025 /CNW/ - The Greater Toronto Airports Authority ("GTAA") today reported its financial and operating results for the second quarter and the first half of 2025. Toronto Pearson, Canada's busiest airport, saw slight growth in its overall passenger volumes, which increased by 0.3 million or 1.5% to 12.0 million for the second quarter and 0.1 million or 0.1% to 22.7 million year-to-date, when compared to the same periods of 2024. This was largely driven by strong growth in both the domestic and international sectors. Overall international growth was offset by a decline in transborder travel. Year-to-date passenger volume was also impacted by extreme weather events, and a five-day runway closure due to a single aircraft incident in the first quarter. "Q2 2025 was encouraging with growth in domestic and international sectors, which offset the decline in transborder U.S. travel. Amid ongoing uncertainties in the global economic and political landscape, year-to-date performance is as strong as 2024, and our long-term strategy remains firmly on track," said Deborah Flint, President and CEO. "We continue to meet milestones in our infrastructure plans," added Ms. Flint. "Pearson is a national economic driver, and we remain focused on increasing our connectivity as a global hub airport that strengthens Canada's economy." Toronto Pearson continues to monitor the global economic and political landscape closely, assessing risks and ready to adapt in economic uncertainty. Key Passenger and Financial Information Three months ended June 30 Six months ended June 30 (millions) 2025 2024 Change 1 2025 2024 Change 1 Passenger Activity % % Domestic 4.4 4.1 0.3 5.6 7.7 7.5 0.2 2.5 International 7.6 7.6 — — 15.0 15.1 (0.1) (1.0) Total 12.0 11.7 0.3 1.5 22.7 22.6 0.1 0.1 ($ millions) Total Revenues 520.7 485.3 35.4 7.3 1,008.1 953.8 54.3 5.7 EBITDA 2 260.9 240.5 20.4 8.4 477.8 460.0 17.8 3.9 EBITDA Margin 50.1 % 48.9 % 47.4 % 47.9 % Net Income 109.7 86.4 23.3 26.9 179.2 160.1 19.1 11.9 Free Cash Flow 2 53.8 39.9 13.9 34.8 184.6 160.6 24.0 14.9 1 Percentage calculations are based on detailed actual numbers (not rounded as presented). 2 Please refer to Non-GAAP Financial Measures at the end of this document for further details. Revenues for the second quarter were $520.7 million, an increase of 7.3%, year-to-date revenue was $1,008.1 million, an increase of 5.7%, compared to the same periods in 2024. The increase in the second quarter and year-to-date is primarily driven by rate and fee increases, aviation activity and a marginal increase in overall passenger traffic. Earnings before interest and financing costs, and amortization ("EBITDA") for the second quarter was $260.9 million, an increase of 8.4%, year-to-date EBITDA was $477.8 million, an increase of 3.9%, compared to the same periods of 2024. Higher revenues associated with the increase in aeronautical fees and Airport Improvement Fees were offset by the increase in operating costs (before amortization), reflecting investments in the year to support customer experience and to prepare the GTAA for medium to long-term growth in passenger volumes. Net income during the second quarter was $109.7 million, an increase of 26.9%, year-to-date net income was $179.2 million, an increase of 11.9%, compared to the same periods of 2024, driven by the increase in revenues being offset by the increase in expenses as mentioned above. Free cash flow for the second quarter was $53.8 million, an increase of 34.8% compared to the same period in 2024 primarily driven by higher cash flow from operations partially offset by lower interest income. Year-to-date free cash flow was $184.6 million, an increase of 14.9% compared to the same period in 2024, driven by higher cash flow from operations partially offset by lower receipt of funds under the Airport Critical Infrastructure Program ("ACIP"). Cash flows from operations are used to fund capital expenditures focused on improving facilities and enabling growth, while maintaining quality customer experience. The GTAA's June 30, 2025 financial results are discussed in more detail in the GTAA's Condensed Interim Consolidated Financial Statements and Management's Discussion and Analysis, each for the three and six-months ended June 30, 2025, which are available at and on SEDAR at Caution Regarding Forward-Looking Information This news release contains forward-looking information within the meaning of applicable securities laws. This forward-looking information is based on a variety of assumptions and is subject to risks and uncertainties. These statements reflect GTAA Management's current beliefs and are based on information currently available to GTAA Management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that the GTAA's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in the GTAA's securities regulatory filings, including its most recent Annual Information Form and Management's Discussion and Analysis, which can be found on SEDAR at NON-GAAP FINANCIAL MEASURES Throughout this news release, there are references to the following performance measures which in Management's view are valuable in assessing the economic performance of the GTAA. While these financial measures are not defined by the International Accounting Standards Board and are referred to as non-GAAP measures which may not have any standardized meaning, they are common benchmarks in the industry, and are used by the GTAA in assessing its operating results, including operating profitability, cash flow and investment program. EBITDA EBITDA is earnings from operations before interest and financing costs, reversal or impairment of investment property, write-down of property and equipment, and amortization. EBITDA is a commonly used measure of a company's operating performance. This is used to evaluate the GTAA's performance without having to factor in financing and accounting decisions. Free Cash Flow Free Cash Flow ("FCF") is cash flows from operating activities per the consolidated statements of cash flows, and ACIP grants received less capital expenditures (property and equipment, investment property, and other) and interest and financing costs paid, net of interest income (excluding non-cash items). FCF is used to assess funds available for debt reduction or future investments within Toronto Pearson. About Toronto Pearson The Greater Toronto Airports Authority is the operator of Toronto Pearson International Airport, Canada's largest airport and a vital connector of people, businesses, and goods. Toronto Pearson has been named "Best Large Airport in North America serving more than 40 million passengers" seven times in the last eight years by Airports Council International, the global trade representative of the world's airports. Toronto Pearson was also recognized in 2025 as one of "Canada's Best Employers" by Forbes. For our corporate X channel, please visit @PearsonComms. For operational updates and passenger information, please visit @TorontoPearson/@AeroportPearson on X. You can also follow us on Facebook or Instagram.
Cision Canada
25-06-2025
- Business
- Cision Canada
Toronto Pearson celebrates second annual Airport Workers Day
TORONTO, June 25, 2025 /CNW/ - Toronto Pearson is proud to host a celebration for the second annual Airport Workers Day – a day dedicated to recognizing people across the airport community whose work is essential to delivering an exceptional travel experience, keeping Canada connected and powering our economy forward. Coordinated nationally by the Canadian Airports Council, Airport Workers Day is also an important opportunity to recognize the invaluable contributions of the 52,000-plus people who make up the Toronto Pearson community. Toronto Pearson is more than a gateway for travel – it's an economic powerhouse for all of Canada. The airport supports more than 133,000 jobs across Canada, contributes $19.6 billion to GDP and anchors the Pearson Economic Zone, where 1 in 7 Toronto-region workers are employed. The celebration took place at the airport on Wednesday, and included remarks from Toronto Pearson President and CEO Deborah Flint, as well as Ontario Premier Doug Ford, and other elected officials. "Airport Workers Day celebrates the dedication of the people who keep Toronto Pearson – and airports across Canada – moving," said Deborah Flint, President and CEO, Toronto Pearson. "In hot summer or cold winters, day and night, airport workers are essential to delivering a safe travel experience. Airport workers stimulate the economy and work to bring joy to travel for each and every passenger. The airport workers at Toronto Pearson are simply incredible." "I want to thank the thousands of Ontario workers who help keep Toronto Pearson, Canada's busiest airport and an economic engine for Ontario's economy, running smoothly," said Premier Doug Ford. "Our government will always have your backs, including in the face of tariffs and economic uncertainty. That's why I was so pleased to announce $2 million in support of Pearson Works which will help train 450 airport workers through our $2.5 billion Skills Development Fund. Once again, to all the workers here at Toronto Pearson: Thank you for all that you do to support and protect Ontario!" "Airport workers aren't just technicians, agents and drivers; they're community-connectors, family bridges and last-mile heroes - getting people where they need to be against improbable odds. More than that, they're the beating heart of our economy, and for that they deserve our thanks and gratitude," said John Zerucelli, Secretary of State (Labour). To learn more about Airport Workers Day, please visit our website. About Toronto Pearson The Greater Toronto Airports Authority is the operator of Toronto Pearson International Airport, Canada's largest airport and a vital connector of people, businesses, and goods. Toronto Pearson has been named "Best Large Airport in North America serving more than 40 million passengers" seven times in the last eight years by Airports Council International, the global trade representative of the world's airports. Toronto Pearson was also recognized in 2025 as one of "Canada's Best Employers" by Forbes. For our corporate X channel, please visit @PearsonComms. For operational updates and passenger information, please visit @TorontoPearson/@AeroportPearson on X. You can also follow us on Facebook or Instagram.
Yahoo
25-06-2025
- Business
- Yahoo
Toronto Pearson celebrates second annual Airport Workers Day
TORONTO, June 25, 2025 /CNW/ - Toronto Pearson is proud to host a celebration for the second annual Airport Workers Day – a day dedicated to recognizing people across the airport community whose work is essential to delivering an exceptional travel experience, keeping Canada connected and powering our economy forward. Coordinated nationally by the Canadian Airports Council, Airport Workers Day is also an important opportunity to recognize the invaluable contributions of the 52,000-plus people who make up the Toronto Pearson community. Toronto Pearson is more than a gateway for travel – it's an economic powerhouse for all of Canada. The airport supports more than 133,000 jobs across Canada, contributes $19.6 billion to GDP and anchors the Pearson Economic Zone, where 1 in 7 Toronto-region workers are employed. The celebration took place at the airport on Wednesday, and included remarks from Toronto Pearson President and CEO Deborah Flint, as well as Ontario Premier Doug Ford, and other elected officials. "Airport Workers Day celebrates the dedication of the people who keep Toronto Pearson – and airports across Canada – moving," said Deborah Flint, President and CEO, Toronto Pearson. "In hot summer or cold winters, day and night, airport workers are essential to delivering a safe travel experience. Airport workers stimulate the economy and work to bring joy to travel for each and every passenger. The airport workers at Toronto Pearson are simply incredible." "I want to thank the thousands of Ontario workers who help keep Toronto Pearson, Canada's busiest airport and an economic engine for Ontario's economy, running smoothly," said Premier Doug Ford. "Our government will always have your backs, including in the face of tariffs and economic uncertainty. That's why I was so pleased to announce $2 million in support of Pearson Works which will help train 450 airport workers through our $2.5 billion Skills Development Fund. Once again, to all the workers here at Toronto Pearson: Thank you for all that you do to support and protect Ontario!" "Airport workers aren't just technicians, agents and drivers; they're community-connectors, family bridges and last-mile heroes - getting people where they need to be against improbable odds. More than that, they're the beating heart of our economy, and for that they deserve our thanks and gratitude," said John Zerucelli, Secretary of State (Labour). To learn more about Airport Workers Day, please visit our website. About Toronto Pearson The Greater Toronto Airports Authority is the operator of Toronto Pearson International Airport, Canada's largest airport and a vital connector of people, businesses, and goods. Toronto Pearson has been named "Best Large Airport in North America serving more than 40 million passengers" seven times in the last eight years by Airports Council International, the global trade representative of the world's airports. Toronto Pearson was also recognized in 2025 as one of "Canada's Best Employers" by Forbes. For our corporate X channel, please visit @PearsonComms. For operational updates and passenger information, please visit @TorontoPearson/@AeroportPearson on X. You can also follow us on Facebook or Instagram. SOURCE Toronto Pearson View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
12-06-2025
- Business
- Cision Canada
Toronto Pearson awards $1.57M Uplift Fund to 11 local organizations to support workforce development, skilled trades training Français
TORONTO, June 3, 2025 /CNW/ - Toronto Pearson is awarding $1.57 million through its Uplift Fund to 11 organizations dedicated to supporting workforce development and expanding the construction skilled trades in communities surrounding the airport. The airport is also committing to broadening its focus to include organizations and job seekers across the entire Pearson Economic Zone over the next three years. This investment will provide more than 2,000 local residents with job placements, training, and career coaching in communities around Toronto Pearson, including Brampton, Mississauga, and Etobicoke. The fund focuses on two streams: breaking down barriers to meaningful employment and growing the construction skilled trades workforce – a new stream that addresses the need to support the construction industry and supports Toronto Pearson's long-term growth plans. "Toronto Pearson understands the importance of partnering with community organizations, as we move forward with plans to build the airport of the future," said Deborah Flint, President and CEO of Toronto Pearson. "The Uplift Fund is just one way we're catalyzing economic growth and helping to build a skilled workforce that represent the broad experiences of people in the region. We are committed to opening doors, removing barriers, and creating opportunity for people who live and work within our community." The Uplift Fund, part of the Propeller Project, has contributed more than $5 million in community funding over the past five years. Since 2018, Toronto Pearson's Uplift Fund has been investing and collaborating in programming, advocacy, and research to support local residents seeking to gain the skills, connections and opportunities to retain meaningful employment. The 11 organizations are: Construction Skilled Trades Stream ACCES Employment, Connecting to Careers in Construction - Connecting young refugees and newcomers in Peel and Etobicoke to construction apprenticeships through mobile outreach and Ontario employment programs. Afro Canadian Contractors Association, Project Ascend: Building Pathways to Success for BIPOC Contractors - Supports BIPOC contractors with skills training in bidding and estimating, mentorship, and post-program support to help them win contracts and grow their businesses. Building Up, Building Up a Network of Holistic Supports for Long-term Construction Careers - Provides marginalized individuals with long-term career support in the trades, including case management, mentorship, financial coaching, and employer connections. Skills for Change, Women in Skilled Trades Green Leadership Academy - Empowers newcomer and racialized women in trades with leadership training and industry connections, promoting inclusion in the green economy. Workforce Development Stream Achev, Job Action Club - Helps low-income residents in Brampton and Mississauga overcome unemployment through job coaching, skills training, and job search support. CNIB, Come to Work: Building Brighter Futures - Supports job seekers with sight loss by building employer partnerships and connecting talent to meaningful work through training and career development. Hospitality Workers Training Centre (HWTC), Uplifting Women's Careers Program - Advances racialized women in hospitality from entry-level to leadership roles through intensive training and career coaching, addressing labour shortages and inclusion. Humber College, NextPath Project: Communication Micro-Credential Program - Assists internationally trained professionals in bridging employment gaps through communication training, job trials, and credential recognition support. The DAM, Youth Employment Program - Prepares youth for the workforce with personalized coaching, training, certifications, and career exploration, reducing employment barriers. The King's Trust Canada, Skills Academy: Creating Pathways to Employment for Young People - Equipping young people with the essential skills employers are seeking such as communication, teamwork, and problem-solving to help them land a job and excel in the modern workplace, highlighting a gap in critical professional skills. YWCA Toronto, Empower Works Program: Pathways to Higher-Paying and Meaningful Work for Women and Gender Diverse Individuals - Supports women and gender-diverse individuals in accessing higher-paying jobs through tailored career planning, employer connections, and empowerment programming. About Toronto Pearson The Greater Toronto Airports Authority is the operator of Toronto Pearson International Airport, Canada's largest airport and a vital connector of people, businesses, and goods. Toronto Pearson has been named "Best Large Airport in North America serving more than 40 million passengers" seven times in the last eight years by Airports Council International, the global trade representative of the world's airports. Toronto Pearson was also recognized in 2025 as one of "Canada's Best Employers" by Forbes. For operational updates and passenger information, please visit @TorontoPearson/@AeroportPearson on X. You can also follow us on Facebook or Instagram.
Yahoo
03-06-2025
- Business
- Yahoo
Toronto Pearson awards $1.57M Uplift Fund to 11 local organizations to support workforce development, skilled trades training
TORONTO, June 3, 2025 /CNW/ - Toronto Pearson is awarding $1.57 million through its Uplift Fund to 11 organizations dedicated to supporting workforce development and expanding the construction skilled trades in communities surrounding the airport. The airport is also committing to broadening its focus to include organizations and job seekers across the entire Pearson Economic Zone over the next three years. This investment will provide more than 2,000 local residents with job placements, training, and career coaching in communities around Toronto Pearson, including Brampton, Mississauga, and Etobicoke. The fund focuses on two streams: breaking down barriers to meaningful employment and growing the construction skilled trades workforce – a new stream that addresses the need to support the construction industry and supports Toronto Pearson's long-term growth plans. "Toronto Pearson understands the importance of partnering with community organizations, as we move forward with plans to build the airport of the future," said Deborah Flint, President and CEO of Toronto Pearson. "The Uplift Fund is just one way we're catalyzing economic growth and helping to build a skilled workforce that represent the broad experiences of people in the region. We are committed to opening doors, removing barriers, and creating opportunity for people who live and work within our community." The Uplift Fund, part of the Propeller Project, has contributed more than $5 million in community funding over the past five years. Since 2018, Toronto Pearson's Uplift Fund has been investing and collaborating in programming, advocacy, and research to support local residents seeking to gain the skills, connections and opportunities to retain meaningful employment. The 11 organizations are: Construction Skilled Trades Stream ACCES Employment, Connecting to Careers in Construction - Connecting young refugees and newcomers in Peel and Etobicoke to construction apprenticeships through mobile outreach and Ontario employment programs. Afro Canadian Contractors Association, Project Ascend: Building Pathways to Success for BIPOC Contractors - Supports BIPOC contractors with skills training in bidding and estimating, mentorship, and post-program support to help them win contracts and grow their businesses. Building Up, Building Up a Network of Holistic Supports for Long-term Construction Careers - Provides marginalized individuals with long-term career support in the trades, including case management, mentorship, financial coaching, and employer connections. Skills for Change, Women in Skilled Trades Green Leadership Academy - Empowers newcomer and racialized women in trades with leadership training and industry connections, promoting inclusion in the green economy. Workforce Development Stream Achev, Job Action Club - Helps low-income residents in Brampton and Mississauga overcome unemployment through job coaching, skills training, and job search support. CNIB, Come to Work: Building Brighter Futures - Supports job seekers with sight loss by building employer partnerships and connecting talent to meaningful work through training and career development. Hospitality Workers Training Centre (HWTC), Uplifting Women's Careers Program - Advances racialized women in hospitality from entry-level to leadership roles through intensive training and career coaching, addressing labour shortages and inclusion. Humber College, NextPath Project: Communication Micro-Credential Program - Assists internationally trained professionals in bridging employment gaps through communication training, job trials, and credential recognition support. The DAM, Youth Employment Program - Prepares youth for the workforce with personalized coaching, training, certifications, and career exploration, reducing employment barriers. The King's Trust Canada, Skills Academy: Creating Pathways to Employment for Young People - Equipping young people with the essential skills employers are seeking such as communication, teamwork, and problem-solving to help them land a job and excel in the modern workplace, highlighting a gap in critical professional skills. YWCA Toronto, Empower Works Program: Pathways to Higher-Paying and Meaningful Work for Women and Gender Diverse Individuals - Supports women and gender-diverse individuals in accessing higher-paying jobs through tailored career planning, employer connections, and empowerment programming. About Toronto Pearson The Greater Toronto Airports Authority is the operator of Toronto Pearson International Airport, Canada's largest airport and a vital connector of people, businesses, and goods. Toronto Pearson has been named "Best Large Airport in North America serving more than 40 million passengers" seven times in the last eight years by Airports Council International, the global trade representative of the world's airports. Toronto Pearson was also recognized in 2025 as one of "Canada's Best Employers" by Forbes. For operational updates and passenger information, please visit @TorontoPearson/@AeroportPearson on X. You can also follow us on Facebook or Instagram. SOURCE Toronto Pearson View original content to download multimedia:
