Passenger traffic slows, but YKF still plans for future expansion

CTV’s Heather Senoran takes a look at how the Waterloo Region International Airport could change as officials plan for future growth.

Fewer passengers may be passing through the Region of Waterloo International Airport lately, but officials say the big picture still points to a major expansion.

On Tuesday, airport staff presented a report to the Region of Waterloo’s Sustainability, Infrastructure and Development Committee.

Staff said they believe 425,000 passengers will move through the airport in Breslau by the end of 2025. The figure represents a decline from the previous year.

“[It’s the airport’s] third best year ever,” Chris Wood, the airport’s director said. “Although it is a decline of about 100,000 [travellers].”

Earlier this year, Flair Airlines announced plans to close its crew base at the airport as of Sept. 3. Flair would also no longer offer international flights from the airport and reduced some of its Canadian offerings.

Planning for change

The airport’s growth plan has not been updated since 2017.

Looking ahead to what the next two decades might hold, staff believe both runways need to be expanded and a new passenger terminal is needed.

Wood showed the committee renderings of what their expansion plan could look like. It came with a price tag of approximately $616 million.

The committee heard 67 per cent of that amount is expected to come from external sources, such as federal and provincial government contributions and private sector partnerships. The remaining money will come from airport revenue, capital reserves, development charges and debt.

“We have some new development areas - the natural heritage management, Indigenous landscaping area. It shows the property line and then woodlands and wetlands,” Woods explained.

According to a 2023 economic impact study, 44 business were operating at the airport, employing 660 people.

“The total economic output of $390 million is really massive growth,” Wood said.

The expansion plans are still tentative and nothing has been finalized.

“We will be completing a long-term financial analysis. We understand the expense side, but we really want to look at what the revenue side looks like,” Wood said.

After the financial analysis is complete, the next steps involve consultation with airport tenants, industry experts and the community.

Waterloo Regional Council is expecting an updated growth plan early next year.