Hot off a record-breaking year, the London International Airport is predicting massive growth in 2019.
Airport officials are projecting a 50 per cent increase in passengers this year, with more than 850,000 travellers expected to fly into or out of the facility. To accommodate the growth, more than $12-million will be invested in the airport for capital improvements.
“We continue to focus on improving passenger experience and growing the range of air services that we offer the passenger” Airport President and CEO Mike Seabrook said in a statement. “Air travel is forecast to grow significantly in our region over the next decade and we believe our airport has a much bigger role to play."
The airport released last year's final passenger numbers Tuesday, showing just over 537,000 travellers passed through the airport in 2018, a 3.1 per cent increase over the previous year. The airport brought in $11.7-million in revenue last year, a nearly four per cent increase compared to 2017.
The airport has announced the addition of several new daily flights within the country since the start of the year and now offers direct flights to all major Canadian cities.
“We are surrounded by many airports, big and small, and it is essential that we adhere to disciplined business practices to ensure our long term success," said Seabrook. “This strategy includes investing prudently in our infrastructure, reducing our debt, and attracting new sources of revenue that allow us to grow without raising our fees and charges. The long term success of our airport requires profitable airlines and businesses that can thrive in the environment that we create. We are on the right path."