Photo: Marie-France Coallier The Duty
The operator of Montréal-Trudeau airport and the Aérocité international Mirabel has posted a loss before interest, taxes, depreciation and amortization of $ 26 million for the quarter ended at the end of June.
The Montreal-Trudeau international airport has welcomed more than 30 times less of the passengers in the second quarter than last year, and income of Aéroports de Montréal (ADM) plunged from 83.5 per cent during this period marked by the pandemic COVID-19.
The operator of Montréal-Trudeau airport and the Aérocité international Mirabel has posted a loss before interest, taxes, depreciation and amortization of $ 26 million for the quarter ended at the end of June, which compared to an operating profit of 85.4 million for the same period last year.
The aviation sector has been essentially paralyzed for the second quarter, by reason of the measures imposed by the health authorities to slow down the pandemic of the novel coronavirus. The borders between many countries are still closed, including the one between the United States and Canada.
It is the fall in income from ADM to this period.
The traffic to the Montréal-Trudeau international airport amounted to approximately 156 000 passengers for the quarter, a decrease of 96.9 % compared to the same period last year. The international traffic has registered a decrease of 97.2 %, the cross-border traffic with the United States has observed a decay of 99 %, and domestic traffic has declined from 95.3 % compared to the second quarter of 2019.
Operating expenses for the most recent quarter were $ 40.7 million, a decrease of 27.3 % compared to the previous year. This decline is notably explained by the reduction of activities and the temporary closure of certain areas of the terminal of Montreal. In addition, decreases in salary have been put in place and the ADM has not replaced some positions left vacant by departures. ADM has also availed itself of the wage subsidy program emergency of Canada.
“The results for this second quarter as evidenced by the devastating effects of the pandemic on the financial health of our organization and will have a definite impact on the ability of ADM to deliver certain projects on our airport site, which are essential for the good of the community “, said in a press release the president and chief executive officer of ADM, Philippe Rainville.