Vancouver Airport Authority maintains one of the world’s highest airport credit ratings
Richmond, B.C., 2019-Aug-15 — /Travel PR News/ — Ratings agency Standard & Poor’s has confirmed its AA long-term issuer credit and senior unsecured debt rating for Vancouver Airport Authority—for the 14th year in a row. The AA rating re-affirms YVR’s position as one of the world’s most financially stable airports, an achievement that stems from the airport’s focus on sustainable growth.
“YVR’s strong financial health is testament to the success of Canada’s unique airport governance model,” said Diana Vuong, YVR’s Vice President Finance and Chief Financial Officer. “As a community-based, not-for-profit organization, YVR reinvests its financial success back into the airport and the region, driving growth while constantly improving the airport for everyone.”
YVR’s financial strength is based on a diversified revenue model that focuses on providing unique business solutions while keeping costs low. Almost half of YVR’s revenue comes from non-aeronautical sources, including YVR’s award-winning BORDERXPRESS™ kiosks, Duty Free sales, concessions, land and terminal rents, parking and more.
As a world-class hub, YVR plays a significant role in driving economic benefits across British Columbia—facilitating $16.5 billion in total economic output, $8.4 billion in total GDP and $1.4 billion in total government revenue. YVR’s operations generate over 24,000 jobs at the airport and, together with tourism and cargo, the airport supports over 100,000 jobs across B.C.
Full details on YVR’s 2018 financials are available in YVR’s 2018 Annual & Sustainability Report.
ABOUT VANCOUVER AIRPORT AUTHORITY
Vancouver Airport Authority is a community-based, not-for-profit organization that manages Vancouver International Airport (YVR). Canada’s second busiest airport, YVR served 25.9 million passengers in 2018. Fifty-six airlines serve YVR, connecting people and businesses to more than 125 non-stop destinations worldwide. In 2019, YVR was voted Best Airport in North America for the tenth consecutive year in the Skytrax World Airport Awards. Vancouver Airport Authority is a dedicated community partner and in 2018 donated more than $1,000,000 to local organizations. We are committed to creating an airport that British Columbia can be proud of: a premier global gateway, local economic generator and community contributor.
CONTACT:
YVR Media Relations
media_relations@yvr.ca
tel: 604-880-9815
@yvrairport
Source: YVR