Peterborough Airport operates as an aviation industrial park, a service to area businesses, a community gateway for the public, tourism, business, and general aviation. The airport's 7000-foot-long runway and supporting infrastructure has been designed to accommodate Boeing 737 series aircraft. Home to over 20 businesses, the Airport provides direct employment to approximately 500 people. Aircraft movements are approximately 45,000 to 50,000 per year.
Highlights
In 2022, a new Airport Master Plan was approved in principle by council through report IPSAIR22-006. This plan represents the blueprint for medium to long-term development to 2037 by guiding future expansion at Peterborough Airport.
In 2024, key objectives are concentrated on driving business development, improving efficiency and sustainability of operations, and adapting to the changing the needs of our community and stakeholders.
Loomex Property Management has completed year eleven of the Airport Management and Operations contract, there remains one 3-year option for extension up to 2029. The 2024 operating budget reflects an increase in day-to-day costs due to utilities, insurance, and contractual services as to the Airport Management and Operations contract. The revenues reflect increases in lease rates, new development fees, charter flights, aircraft parking, and new fees.Recommendation
That any excess Airport development review fees at the end of 2024 be transferred to the Airport Development Review Reserve for future Airport Development related expenditures and that, if the 2024 Airport development review costs exceed the review fees, funds may be drawn from the Airport Development Review Reserve.
2024 Overview
| Description | 2024 recommended |
|---|---|
| Expenditures | $3,385,183 |
| Revenues | $1,108,589 |
| Net requirement | $2,276,593 |
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