It’s with great pride that we present you with the 2013 year in review of the Lake Simcoe Regional Airport (LSRA). 2013 proved to be another exciting year for the airport and I would like to express my appreciation to the staff and Board of Directors for their support and hard work that has contributed to the many achievements this year. This year, the LSRA had another very successful year!
This is thanks in part to the airport’s very healthy fuel sales that rose by 15% from last year, even without having an Air Show. We’re seeing more corporate jet owners re-locating to LSRA, and I think it’s safe to say this is a trend that is not going away anytime soon. Our prime geographical location to Toronto, as well as our fully serviced Canada Border Services Agency makes us a very convenient alternative to Pearson Airport. The LSRA is one of the top-ten busiest airports of its size and category in Canada, and we’re only going to get busier.
We are attracting and growing more business, and with many more development opportunities on the horizon, we expect the airport will continue to prosper into the coming years. Controlled expenditures and an increase in airport revenues have contributed to this operating position. It’s important to note that all of our operating surpluses are transferred to capital reserves, to lower the capital required for future projects and equipment expenditures.
Fuel sales presently account for approximately 40% of the airports’ annual budgeted revenue streams. As of October 31, 2013, the overall year-to-date volume fuel sales has increased by 15% over the same period in 2012. This increase ￼￼occurred even without an Air Show in 2013. The Air Show in 2012 considerably helped to increase fuel sales — and without those sales in the 2012, the year-to-date fuel sales increased by 35% over the same period. The airport’s fuel sales continue to be extremely healthy as a result of an increase in corporate air travel, air ambulance as well as DND (non air show related).
Presidential Air recently purchased an existing hangar, with plans to rejuvenate the 8,000 sq.ft. facility. Presidential Air will not only continue to operate its air charter service from the airport, but it will also expand its aircraft maintenance operation by now being certified as an Approved Maintenance Organization. As a result, Presidential will be able to provide airport users with an on-site maintenance facility capable of servicing a variety of aircraft.
Air Bravo will be coming up to two successful years in operations at the Lake Simcoe Regional Airport. Although Air Bravo also provides charter and air cargo services, their primary function is that of an air ambulance service provider to the Ministry of Health. Over the past 12 months, Air Bravo alone has conducted more than 275 air ambulance missions from its base at the Lake Simcoe Regional Airport.
In the past year, three corporate jet operators have moved to Lake Simcoe Regional Airport. More corporate owners are choosing to re-locate as a cost effective and convenient alternative to Toronto Pearson. As well, the airport has developed a professional reputation for being well-cared for and accessible in all weather conditions.
The Lake Simcoe Regional Airport is elated to announce the return of valued tenant and reinvestment from a community leader. This exciting development marks the commencement of a new 30-year land lease agreement with Georgian International. Mr. Dave Bunston, President and CEO of Georgian International made the following announcement:
“Georgian International is excited to be returning to the airport after a prolonged absence. Having originally built the hangar twenty years ago, Georgian has repurchased it and will be undergoing improvements to the building. Georgian has always been an active community supporter, both locally and regionally, and Lake Simcoe Regional Airport represents a key part of Simcoe County’s emergence as a key economic centre. The airport infrastructure is now in place for future growth and we believe that Georgian International is at the emerging point of that growth. We therefore look forward to being an active participant in Lake Simcoe Regional Airport’s future success.”