Operate a city centre airport - investors sought

[photofly]

Listen up, AvCanada. Now is our chance to seize operations of a downtown city airport and run it for the benefit of General Aviation.

Ports Toronto announced today it is looking to "identify a financial investor that would be interested in operating the [Billy Bishop Toronto City] airport under lease".

This "is being undertaken in an effort to reduce PortsToronto’s overall debt position, restore and enhance liquidity; enable ongoing and future infrastructure investment; and ensure the airport’s long-term viability."

So - let's put together a community proposal to take over running the airport, and then we can set our own landing fees and noise abatement policies.

Could the wealthier members of this community who are interested please get in touch by PM? (Rookiepilot, I'm thinking of you, here.) I think we'd need to be able to raise a couple of hundred million dollars, nothing too ambitious. We might even get to rename it it the Toronto City Centre Billy Bishop AvCanada Airport.

The press release goes on:

Should PortsToronto choose to pursue this concept further, the process will progress to a Request for Proposal (RFP) later this year in consultation with the City of Toronto and the federal government including Transport Canada.

[digits_]

We might even get to rename it it the Toronto City Centre Billy Bishop AvCanada Airport.

Would be great! We can put 10 banners in front of every information screen. Print some ads on the boarding passes. Or we can randomly deny you access if you arrive in an uber or taxi that has been used by a criminal once.

What could possibly go wrong?

[altiplano]

You have to know Brookfield may make a move here, or at least are looking closely.

There was a lot of bad blood down there at the city airport over the way things were done not too long ago. Now Calin Rovinescu has a $600 billion financial powerhouse backing him to make moves and acquisitions into this sector specifically along this line. I'm sure he holds a grudge and would relish an opportunity to make good on it.

[photofly]

The Port Authority doesn't own the terminal building or the parking concession and isn't selling the rights to assign slots. So it's basically landing fees and passenger fees in return for a lump sum. The whole TPA idea was to bring in a lot of private sector skill to the board to run it like a private enterprise and earn money from what was otherwise a federal government white elephant and and downtown park-in-waiting on the Chicago Meigs model. This looks like the TPA board throwing in the towel and asking for others to do what it has not been able to manage. It looks like a case of buy high sell low - if the TPA can't cover its debt at current interest rates from that meagre income as things stand, how is anyone else going to? Unless fees go up up up up up up.

[anofly]

I am almost sick, this will be the end of YTZ as anything useful for GA.
IF the 80.00 dollar overnight plus gst does not kill its usefulness for GA, the "new "landing fee structure that will come will.
Or they will negotiate with someone somewhere to get "jets" in , and they will pay what the new lessor will no doubt want....

[Aussiecat]

We once had a City Centre Airport, Sadly the politicians in power at the time thought it would be better as a housing community ( still not built 7 + years later) Poor old CYXD...

[simply_no_one]

Captain Kirk can run it. And sell YouTube videos for ad revenue which can go towards property tax.

[simply_no_one]

Captain Kirk can run it. And sell YouTube videos for ad revenue which can go towards property tax.

[ayseven]

While I do not propose an alternative, I have noticed many Private / Public "Partnerships" benefit nobody, and ending up costing the taxpayer in the end. Surely somebody has an idea that makes sense. Anybody flying into Toronto avoids Pearson like the plague. The Island is just too handy.