FACT SHEET1
GREATER TORONTO AIRPORTS AUTHORITY
- The busiest leased airport in National Airports System with over 23 million
passengers.
- 63% savings on rent paid over the life of lease.
Projected Savings Under New Policy
Estimated rent savings under new rent formula:
$5 billion2 over the
life of lease (to 2056)
$42 million over the next four years (2006 to 2009)
|
Rent Projections
|
2006 |
2010 |
2015 |
2020 |
Total2 |
Old Formula |
$147 million |
$161 million |
$491 million |
$785 million |
$8 billion |
New Formula |
$144 million |
$135 million |
$173 million |
$198 million |
$3 billion |
Savings |
$3 million |
$26 million |
$318 million |
$587 million |
$5 billion |
Greater Toronto Airports Authority Annual Rent
Payments ($000)
![Projected annual savings on Greater Toronto Airports Authority rent payments from 2004 to 2020 under the new formula as compared to the old formula. The projected annual savings start at $3 million in 2006, and are $587 million in 2020.](/web/20060212030306im_/https://www.tc.gc.ca/air/airport-rent/fact/images/toronto.gif)
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.
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