The Greater Toronto Airports Authority (GTAA) and Air Canada entered into an enhanced commercial relationship to develop Toronto Pearson Airport as a global hub in October 2013.
The agreement includes continuing improvements to customer service, offering greater flight frequencies to existing destinations and opening up access to more global destinations through the airport.
The agreement, which will be effective from January 1, 2014, is for an initial 5 year term and includes annual fixed aeronautical fees for Air Canada, representing its share of aeronautical costs in relation to landing fees, general terminal charges and apron fees.
“Toronto has the potential to become a preferred global routing because it offers some of the best elapsed travel times between the U.S. and major centers in Europe and Asia,” said Ben Smith, Executive Vice President and Chief Commercial Officer of Air Canada in a press release.
Toronto Pearson International Airport is Canada’s biggest airport and one of the largest airports in North America in terms of passenger and air cargo traffic.
The airport handled 35 million passengers in 2012 and is ranked as second largest airport in terms of international passenger traffic in North America.