Kelowna International Airport receives ‘record funding’ of $69.9M for expansion
The extra fees that passengers have been paying at Kelowna International Airport will be used to fund upcoming expansion.
On Friday, the airport announced that $69.9 million will be invested over the next three years to meet future growth. It called the funding the most ever in its 72-year history.
The airport is the nation’s 10th busiest, having attracted 2,080,372 passengers in 2018 – a growth of 31 per cent since 2015, or 486,700 passengers.
In making the announcement, the airport said Kelowna city council approved $67.3 million for upcoming expansion construction.
A press release from the airport did not say where the extra $2.6 million came from, or if all $69.9 million was 100 per cent funded via its improvement fees.
Global News has reached out for clarification.
“Funded through airport improvement fees, this capital development program has no impact on taxation,” the airport said in the release.
The airport, which is municipally owned, says it is funded entirely through its own revenues.
The airport says improvement fees are common among Canadian airports and are used to fund capital projects and the cost of associated debt.
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