Latest news with #GTAA
Associated Press
23-05-2025
- Business
- Associated Press
Toronto Pearson to conduct annual full-scale emergency exercise
TORONTO, May 23, 2025 /CNW/ - Toronto Pearson will conduct its annual full-scale emergency exercise on May 24 to reinforce preparedness through regular practice and procedural review. Mandated by Transport Canada, this full-scale exercise is a critical component of Toronto Pearson's emergency readiness efforts and has been conducted annually since 1991. This year's exercise will involve airport staff, first responders, airline and agency partners, and nearly 200 volunteers. It will begin at approximately 11 p.m. and continue into the early morning hours of May 25. 'Safety is at the core of everything we do at Toronto Pearson. These annual exercises underscore our commitment to emergency preparedness and provide us and our partners the opportunity to test all aspects of our joint response,' said Khalil Lamrabet, Chief Operating Officer, Toronto Pearson. 'These exercises are critical to practice our preparedness and ensure we are always ready to respond when it matters most.' There will be no disruption to flights or passenger services during the exercise. Members of the public may notice an increased presence of emergency personnel on airport grounds. 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
Yahoo
15-05-2025
- Business
- Yahoo
TORONTO PEARSON ANNOUNCES DEBBIE SIMPSON AS CHIEF FINANCIAL OFFICER
TORONTO, May 15, 2025 /CNW/ - Deborah Flint, President and Chief Executive Officer of the Greater Toronto Airports Authority ("GTAA"), announced today that Debbie Simpson officially assumes the role of Chief Financial Officer ("CFO"). Ms. Debbie Simpson joined the GTAA as Interim CFO in November 2024, with a focus on enhancing Toronto Pearson's strategic goals and capital projects. With 35 years of experience in complex financial management and now serving as CFO, Ms. Simpson will play a key role in shaping our financial strategy and financing capabilities, with a focus on enabling Toronto Pearson to deliver its 10-year Strategic Plan. Before joining GTAA, Ms. Simpson played a key role in leading strategic and transformational investments at Li-Cycle, where she established a funding strategy and roadmap, built the Finance function, and developed a governance framework for the newly established public company. She also served as CFO of Maple Leaf Foods, where she executed several major acquisitions and dispositions, supported a shift in strategy and transformation for the company, established capital allocation principles, and secured more than $2 billion in funding to support financial resiliency. "Debbie's financial leadership experience, which spans large commercial enterprises and complex transactions, has positioned her to make strong contributions to our organization," said Deborah Flint, President and CEO. "Debbie is an excellent complement to the executive team and will further strengthen our financial planning and management and lead the execution of our 10-year strategy, inclusive of our LIFT program," added Ms. Flint. Ms. Simpson was educated in the UK, earning a Bachelor's degree in Business and a Master's degree from the University of Stirling. She is also a Certified Public Accountant (CPA) with the Institute of Chartered Accountants of Scotland, where she trained with EY. 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: Sign in to access your portfolio
Cision Canada
15-05-2025
- Business
- Cision Canada
TORONTO PEARSON ANNOUNCES DEBBIE SIMPSON AS CHIEF FINANCIAL OFFICER
TORONTO, May 15, 2025 /CNW/ - Deborah Flint, President and Chief Executive Officer of the Greater Toronto Airports Authority ("GTAA"), announced today that Debbie Simpson officially assumes the role of Chief Financial Officer ("CFO"). Ms. Debbie Simpson joined the GTAA as Interim CFO in November 2024, with a focus on enhancing Toronto Pearson's strategic goals and capital projects. With 35 years of experience in complex financial management and now serving as CFO, Ms. Simpson will play a key role in shaping our financial strategy and financing capabilities, with a focus on enabling Toronto Pearson to deliver its 10-year Strategic Plan. Before joining GTAA, Ms. Simpson played a key role in leading strategic and transformational investments at Li-Cycle, where she established a funding strategy and roadmap, built the Finance function, and developed a governance framework for the newly established public company. She also served as CFO of Maple Leaf Foods, where she executed several major acquisitions and dispositions, supported a shift in strategy and transformation for the company, established capital allocation principles, and secured more than $2 billion in funding to support financial resiliency. "Debbie's financial leadership experience, which spans large commercial enterprises and complex transactions, has positioned her to make strong contributions to our organization," said Deborah Flint, President and CEO. "Debbie is an excellent complement to the executive team and will further strengthen our financial planning and management and lead the execution of our 10-year strategy, inclusive of our LIFT program," added Ms. Flint. Ms. Simpson was educated in the UK, earning a Bachelor's degree in Business and a Master's degree from the University of Stirling. She is also a Certified Public Accountant (CPA) with the Institute of Chartered Accountants of Scotland, where she trained with EY. 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
07-05-2025
- Business
- Yahoo
GTAA REPORTS 2025 ANNUAL RESULTS
Earnings before interest and financing costs, and amortization ("EBITDA") decreased during the three months ended March 31, 2025, by 1.0 per cent to $216.9 million, compared to the same period of 2024. Higher revenues associated with the increase in aeronautical and AIF fees were offset by the increase in operating costs (before amortization), for Q1 2025 reflecting investments in the year to support customer experience and prepare GTAA for medium to long term growth in passenger volumes. Revenue growth of $18.9 million for the three months ended March 31, 2025, is primarily driven by rate and fee increases, offset by a decline in passenger volumes compared to the same period in 2024. 2 Please refer to Non-GAAP Financial Measures at the end of this document for further details. "We continue to make steady progress on our growth strategy as we build for the future" added Ms. Flint. "Pearson's economic contribution to the region are substantial, and we remain focused on strengthening our connectivity as a global hub airport." "Our performance in the first quarter has been marginally affected by the operational events in February as well as the current global economic and political landscape," said Deborah Flint, President and CEO. "These pressures have resulted in a 2% decline in total year over year passenger traffic." TORONTO, May 6, 2025 /CNW/ - The Greater Toronto Airports Authority ("GTAA") today reported its financial and operating results for the three months ended March 31, 2025. Toronto Pearson, Canada's busiest airport, saw a slight decline in its passenger volumes, which decreased 2.0 per cent to 10.7 million in the first quarter of 2025, compared to the same period in 2024. This was due to a slight softening in both the international and domestic sectors, compared to the same period in 2024. February also saw extreme weather conditions, and a five-day runway closure due to a single aircraft incident. Story Continues Net income decreased during the three months ended March 31, 2025 by $4.1 million to $69.5 million, compared to the same period of 2024 due to the increase in total expenses being partially offset by increase in revenues. Free cash flow increased $13.7 million to $130.8 million 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 March 31, 2025 financial results are analyzed in more detail in the GTAA's Condensed Interim Consolidated Financial Statements and Management's Discussion and Analysis, each for the three months ended March 31, 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. SOURCE Greater Toronto Airports Authority Cision View original content to download multimedia:
Cision Canada
07-05-2025
- Business
- Cision Canada
GTAA REPORTS 2025 ANNUAL RESULTS
TORONTO, May 6, 2025 /CNW/ - The Greater Toronto Airports Authority ("GTAA") today reported its financial and operating results for the three months ended March 31, 2025. Toronto Pearson, Canada's busiest airport, saw a slight decline in its passenger volumes, which decreased 2.0 per cent to 10.7 million in the first quarter of 2025, compared to the same period in 2024. This was due to a slight softening in both the international and domestic sectors, compared to the same period in 2024. February also saw extreme weather conditions, and a five-day runway closure due to a single aircraft incident. "Our performance in the first quarter has been marginally affected by the operational events in February as well as the current global economic and political landscape," said Deborah Flint, President and CEO. "These pressures have resulted in a 2% decline in total year over year passenger traffic." "We continue to make steady progress on our growth strategy as we build for the future" added Ms. Flint. "Pearson's economic contribution to the region are substantial, and we remain focused on strengthening our connectivity as a global hub airport." Toronto Pearson continues to monitor the global economic and political landscape closely, assessing risks and ready to adapt as ongoing tariff pressures create economic uncertainty. Key Passenger and Financial Information 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. Revenue growth of $18.9 million for the three months ended March 31, 2025, is primarily driven by rate and fee increases, offset by a decline in passenger volumes compared to the same period in 2024. Earnings before interest and financing costs, and amortization ("EBITDA") decreased during the three months ended March 31, 2025, by 1.0 per cent to $216.9 million, compared to the same period of 2024. Higher revenues associated with the increase in aeronautical and AIF fees were offset by the increase in operating costs (before amortization), for Q1 2025 reflecting investments in the year to support customer experience and prepare GTAA for medium to long term growth in passenger volumes. Net income decreased during the three months ended March 31, 2025 by $4.1 million to $69.5 million, compared to the same period of 2024 due to the increase in total expenses being partially offset by increase in revenues. Free cash flow increased $13.7 million to $130.8 million 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 March 31, 2025 financial results are analyzed in more detail in the GTAA's Condensed Interim Consolidated Financial Statements and Management's Discussion and Analysis, each for the three months ended March 31, 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.
