Toronto Pearson Cuts Fees

The Toronto airport is cutting its fees for airlines for the third straight year, part of a cost-reduction plan the Canadian gateway says has added up to more than $100 million since 2007.

The Greater Toronto Airports Authority said Friday it will cut landing fees and terminal charges 10 percent at Toronto Pearson International Airport, effective Jan. 1, 2010.

At a time when the aviation industry is struggling with declines in traffic, this reduction will result in estimated savings of $58.4 million to the airline industry at Toronto Pearson next year, the authority said. Toronto Pearson is a main hub for Air Canada, including the airline’s cargo operations.

“With the 10-year Airport Development Program completed, we have worked hard to reduce our fees to the airlines to ensure that Toronto Pearson remains competitive,” said Lloyd McCoomb, president and CEO of the GTAA. “We are partnering very closely with airlines to increase traffic at Toronto Pearson to ensure that the aviation needs of this community are met. Obviously, the cost of operating will always be a deciding factor for an airline.”

Steps taken in February to reduce costs in the economic downturn and the success of Toronto’s landing fee rebate program made the current fee reduction possible, GTAA said.