The Winnipeg Airports Authority (WAA) officially turned a profit in 2023 – the first time since the start of the pandemic.
According to the organization’s 2023 Financial Report, it ended the year with a net income of $14.9 million – a big improvement over the $5.5 million loss noted in 2022.
WAA said the positive development is a result of “stronger revenue growth despite an increase in operating expenses, driven by persistent inflation and the additional impact on key contract renewals.”
WAA also experienced significant growth in the domestic sector and said summertime was particularly notable.
Last year, Winnipeg Richardson International Airport welcomed around 4.1 million passengers, which is a 35 per cent increase from 2022, and around 91 per cent of its 2019 numbers.
Revenue for the year also ended on a positive note with $163.9 million, which is a $32.1 million increase from 2022.
“The change is attributed …