London International Airport to receive $4.5 million from FedDev Ontario
London International Airport is a key transportation asset that, in 2019, served nearly 700,000 passengers, with 40 commercial airline departures daily to over 14 destinations. During the pandemic, the airport experienced declines of over 90 percent in passenger volumes.
This non-repayable investment will provide liquidity support to enable continued critical regional air operations and services by helping the airport to cover fixed operating expenses. This project will also support critical operational services, reinstate regional air routes and maintain jobs in the London region.
Regional air transportation is key to the economic development of communities and businesses right across Canada. It is essential to connecting Canadians living in rural and remote communities to urban centres, delivering Canadian goods to the global market and welcoming international visitors to all parts of the country, when it is safe to do so.
“It is important to protect our regional air transportation ecosystems for the thousands of workers employed by this sector and for the many businesses and communities that depend on it. We know that air connectivity to all regions is essential to healthy, inclusive economic growth, and supporting it is part of our plan to build back a stronger, more resilient economy,” the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario says.
“We are grateful to receive the non-repayable FedDev Ontario support that will aid our recovery and help us get back on our feet, as London International Airport faces a profound impact from the pandemic. This support will help us keep jobs and cover operating expenses as passengers make their return to travel through southwestern Ontario’s ‘easy and comfortable’ airport,” said Mike Seabrook, President and CEO, London International Airport.
With 50 businesses located at the airport and employing more than 1,200 employees, the London International Airport is a significant contributor to local jobs and economic growth. ■