The pandemic has taken a big financial bite out of the Thunder Bay International Airport.
During the Annual General Meeting President and CEO Ed Schmidtke did not mince words on how bad it has been saying “The financial impact has been severe. We’ve been posting major losses in April and May. They continue through the summer and will continue for some time.”
The airport president noted passenger volume is down 88 percent since March 15th.
“We have seen a little bit of a bump in the month of August, since March, but that puts us at something like 25 percent of normal…we are a long way from normal,” notes Schmidtke.
He says the financial impact has been mitigated by reduced service levels, postponed capital expenditures and deferred debt payments.
