Billy Bishop airport needs more runway space to comply with regulations: PortsToronto [Video]

The owner of Billy Bishop Toronto City Airport says new federal safety requirements, including the need for more runway space, mean that the 40-year agreement that governs the waterfront airport must be reopened nearly a decade early.

The airport’s Tripartite Agreement, which was signed by Billy Bishop operator PortsToronto, the City of Toronto, and the federal government in 1983, isn’t set to expire until 2033 but PortsToronto confirmed Monday that it has made a request to “initiate discussions on updating the agreement.”

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“This is due in large part to a federal requirement for additional Runway End Safety Areas (RESA) at Billy Bishop Airport which need to be completed by mid-2027,” PortsToronto spokesperson Deborah Wilson said in a written statement sent to CP24.com.

“This will require an update to the existing 40-year-old Tripartite Agreement, and long-term financial planning that will require …