Montreal’s Trudeau airport (YUL) is planning major renovations that come with a price tag of $10 billion, it said Wednesday. As part of that funding, the ADM Aéroports de Montréal secured a $1 billion investment from the Canada Infrastructure Bank (CIB). According to ADM, its passenger traffic has surpassed pre-pandemic levels, and its 10-year renovation plan is needed to “keep pace with demand.” ADM said it is not receiving any government subsidy for the project, but is financing the project through loans and its own revenue. It is preparing to spend $1 billion per year over the next 10 years. Renovation plans were announced in April 2024, and the ADM said it planned to spend $4 billion by 2028. Thanks to its loan from the CIB, the project will be extended to 2035, it said. The ADM said it will reconfigure certain road accesses, build new drop-off areas, demolish the current large multi-storey car park to build a new one further away, add parking spaces, add a satellite pier and expand the baggage hall, build a rainwater retention basin south of the airport and welcome the REM. Part of the airport’s goal is to alleviate traffic. The airport expects to see its passenger volume reach 25 million people by 2028 and between 30 to 35 million by 2035. “YUL’s development plan is extensive, but essential to ensure that our international airport can continue to accommodate growing passenger numbers and meet the expectations and needs of its users,” said ADM CEO Yves Beauchamp in a news release. “YUL will now be able to fulfil its role as a driver of socio-economic development for the city, province, and country even more effectively.” Last month, the Canadian Competition Bureau said the airport should end its monopoly on international travel, which the ADM opposes. ADM stresses that the airport expansion will create thousands of jobs, improve service and support long-term economic growth.
