The Vancouver Airport Authority announced today a $5 rate hike for passengers traveling through Vancouver starting May 1st. Increasing its Airport Improvement Fee (AIF), the airport hopes renovations over the next ten years will continue to keep the airport competitive.
Although still a low AIF for Canada, passengers travelling to non-BC locations will soon see their fee change from $15 to $20. Those travellers who stay within BC or are heading to the Yukon will see no change in their $5 AIF.
"YVR employs 23,600 people, is home to 400 businesses and generates $1.9 billion in GDP for Canada. It's no surprise that we have to continue investing in our airport to ensure we remain an economic engine for our community," said Berg. "Every penny of AIF collected goes toward building a better airport for British Columbia."
This rate hike is a direct result of the Vancouver Airport Authority’s 10-year improvement strategy that will cost approximately $1.8 billion.
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"YVR is facing increasing competition from other airports; both travellers and airlines have choices," said Larry Berg, President and CEO, Vancouver Airport Authority. "In order to remain competitive and an airport that British Columbia can be proud of, we must continue to invest in projects that make it easier and faster for passengers and their baggage to move through the airport."
Highlights of the improvement include more than 700 metres of secure corridors and moving walkways, new high-speed baggage systems, upgrades to original areas of the 1968 Domestic Terminal Building, runway safety enhancements.