FACT SHEET1
ALL AIRPORT AUTHORITIES
- Over 71 million passengers at all leased airports in the National Airports
System.
- Over 60% savings on rent paid over the life of leases.
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Projected Savings Under New Policy
Estimated rent savings under new rent formula:
$7.8 billion2 over the
life of leases (to 2063)
$349 million over the next four years (2006 to
2009)
Chattels3 payments
forgiven:
$21.9 million over the next nine years (2006 to
2014)
|
Rent Projections
|
| 2006
| 2010
| 2015
| 2020
| Total2
|
| Old Formula |
$337 million |
$390 million |
$818 million |
$1.2 billion |
$12.9 billion |
| New Formula |
$289 million |
$214 million |
$274 million |
$0.3 billion |
$5.1 billion |
| Savings |
$48 million |
$176 million |
$544 million |
$0.9 billion |
$7.8 billion |
Canadian Airport Authorities Annual Rent Payments
($000)
1Note: All figures are estimates based on
Transport Canada modeling using data supplied by airport authorities, and are
subject to change. Actual results may differ from projections.
2Net Present Value, which is the value of the
future stream of rent payments brought back to the present by means of an
appropriate discount rate.
3Chattels are items of tangible personal property
used for the management, operation or maintenance of the premises, which were
sold by Transport Canada to airport authorities at the time of transfer. (N.B.
Items of tangible personal property included such things as furniture, computer
equipment, cars, trucks and snow blowers.)
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