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FACT SHEET1

VANCOUVER INTERNATIONAL AIRPORT AUTHORITY

  • 2nd busiest leased airport in National Airports System with over 13 million passengers.
  • 54% savings on rent paid over the life of lease.

Projected Savings Under New Policy

Estimated rent savings under new rent formula:

    $1.1 billion2 over the life of lease (to 2052)
    $90 million over the next four years (2006 to 2009)
Rent Projections
  2006 2010 2015 2020 Total2
Old Formula $81 million $99 million $125 million $151 million $2.0 billion
New Formula $75 million $30 million $ 41 million $ 51 million $0.9 billion
Savings $ 6 million $69 million $ 84 million $100 million $1.1 billion

Vancouver International Airport Authority Annual Rent Payments ($000)
Projected annual savings on Vancouver International Airport Authority rent payments from 2004 to 2020 under the new formula as compared to the old formula. The projected annual savings start at $6 million in 2006, and are $100 million in 2020.

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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