Some 5.3 million travelers passed through Montréal-Trudeau International Airport in the second quarter of 2023, an increase of 32.9% compared to the same period last year, announced ADM Aéroports de Montréal on Wednesday.
International traffic increased by 39.3%, cross-border (US) by 41.9% and domestic traffic by 20.1% compared to the second quarter of 2022.
Compared to the pre-pandemic period, in 2019, passenger traffic reached 106.1% in the quarter ended June 30, 2023. The level is 117.7% for international, 107.7% for cross-border and 92, 5% for interior.
The spring months saw the biggest increase in passengers compared to 2019. Some 1.7 million people used the airport in May and 2.0 million in June.
Revenue was $203.6 million for the second quarter of 2023, an increase of 28.8% over the same period last year.
“Despite passenger traffic that now exceeds 2019 ridership levels, and difficult weather conditions, airport operations are proceeding more smoothly at YUL Montréal-Trudeau International Airport during this summer season, compared to the summer 2022,” said Philippe Rainville, Chairman and CEO of ADM, in a press release.
Earnings before tax, interest and amortization (EBITDA) were 104.8 million for the second quarter of 2023, an increase of 78.6% compared to the same quarter of 2022.
Total airport expenses were $162.7 million over the period, up 10.9% from the second quarter of 2022. While net finance expenses were down 23.1%, operating expenses jumped 31.7% and rent to Transport Canada jumped 32.4%.
In the end, the excess of income over expenses was 40.9 million, compared to 11.3 million in the same quarter last year.
ADM’s net debt reached 2.27 billion as of June 30, 2023. This is the difference between the gross balance payable of long-term bonds and the amount available in cash.
ADM also highlighted a 50.5% increase in its capital investments made in its two airports, in Montreal (YUL) and Mirabel (YMX), or 90.7 million. Of this amount, $22.6 million was spent on the Réseau express métropolitain (REM) station in Montreal.
