Montréal-Trudeau International Airport surpasses pre-pandemic travel in 2023

ADM Aéroports de Montréal has published its full-year 2023 results, highlighting a record number of passengers and ‘the strongest growth of any major Canadian airport’ for YUL Montréal-Trudeau International Airport. “With 36 airlines now operating at YUL and 157 destinations available to travellers, it’s clear that our airport has fully resumed its role as a major hub  for international air travel,” commented Yves Beauchamp, president and CEO of ADM. A record 21.2 million passengers used the facilities in 2023. As of December 31 2023, the airport’s operating revenue reached $847.9, a 30% increase from the year before. The excess of revenue over expenses was $132.9 million, compared with 445.3 million in 2022: an increase of 193.2%. Although operating recvenues rose 27.3% from 2022 to $272.8 million for the full year 2023, ‘this variance can be explained by the increase in the total number of employees and by higher operating costs related to measures taken i nresponse to increased traffic,‘ explains ADM. Net financial expenses totalled $93.3 million in 2023, down $25.8 million, or 21.6%, compared with 2022. This variance was attributed to an increase in interest income, resulting from greater liquidity surpluses combined with higher interest rates. Moody’s and DBRS have assigned ADM credit ratings of A1, Stable and A (high) respectively to the corporation’s long-term bonds.