The management of Gene-Lace International Airport (YQB) in Quebec plans to hit the “bottom of the barrel” in 2021, with only 100,000 passengers expected at this time.
Apparently, the pandemic is damaging Quebec Airport. Estimates for 2021 indicate a traffic reduction of approximately 95% compared to 2019, with 1,789,005 passengers passing through the YQB.
On Thursday, management took stock in its last financial year.
Despite the reduction in operating costs, YQB. Recorded losses of 26.7 million. By “returning to profitability”, the airport hopes to cover a deficit of about $ 100 million this year, including $ 49 million.
In terms of passenger numbers in recent months, YQB says “the reality has become even more brutal than the worst scenario ever considered.” The airport closed this year with a total of 535,111 passengers.
Management estimates it will take at least five years to cross the 1.7 million passenger mark.
“Obviously, this epidemic has affected all aspects of our operations. This situation calls for great budget austerity and difficult decisions have to be made, ”said Liz Lapierre, chairman of the board of directors.
In recent months, YQB has revised its strategic plan to expand its revenue sources and ensure its sustainability.
The company wants to optimize its rideership area, integrate regional aviation services, build an intermodal air freight center, develop an airport park and set up an American pre-clearance center.
“We are working tirelessly to prepare for recovery so that our airport can regain this speed quickly, which has suddenly slowed down. While waiting to find out when recovery is possible, we are actively working on how to do it,” said President and CEO Stephen Poyer.
More details coming …