Today at its annual public meeting, Halifax International Airport Authority (HIAA) celebrated its “incredible growth in 2024” and recognised its positive economic impact on Atlantic Canada and beyond.
“In 2024, our team wholeheartedly embraced our vision – people and partners creating Canada’s best gateway airport – by driving initiatives that strengthen our commitment to excellence, and building for the future,” said president and CEO, Joyce Carter.
“We were thrilled to welcome new and returning non-stop air services, launch new programmes and services, and make significant progress on all of our strategic priorities.”
Total revenue for HIAA, operator of Halifax Stanfield International Airport, was up 10.5% from 2023, with growth reported in all travel sectors and revenue categories.
HIAA reached a new record of service to international destinations, driving both aeronautical and non-aeronautical revenue.
In tandem with strong passenger levels, bottom-line performance in 2024 was driven by strong revenues dedicated to funding the airport infrastructure investments necessary to meet rising activity levels and increasing air carrier connectivity.
Revenue growth continued to outperform expense growth, which was up C$7.7 million, primarily driven by increased personnel-related costs, materials, services and supplies, and ground lease rent paid to the federal government.
These numbers reflect better-than-projected revenue and expense forecasts, leading to a net income of C$23 million, an increase of C$7 million from 2023.
“Our financial achievements in 2024 have set HIAA up for a period of sustained success,” said Paul Brigley, HIAA’s vice president for finance and CFO.
“With a strong performance propelling us forward, our airport is ready to make the strategic investments needed to expand our services, drive sustainability, renew infrastructure and deliver a world-class experience to even more passengers in the coming years.”
The growth HIAA experienced is positively reflected in its economic impact for the province, driving C$4.2 billion in annual economic impact to Nova Scotia in 2023, including C$1.4 billion in tourism spending.
HIAA continued to focus capital investments on strategic priorities and maintenance of safe and efficient airport operations. In 2024, capital expenditures totalled C$34.6 million, a 15% increase from the previous year.
These projects, notes HIAA, align with our commitment to safety, accessibility, innovation, and the continued enhancement of the Halifax Stanfield experience.
“In 2024, HIAA built strong relationships with the communities we serve, invested in accessibility, reduced emissions, and laid the physical and technological foundations that will allow us to take off to greater heights,” said Carter.
“I’m incredibly grateful to the dedicated employees, volunteers, airline and community partners, and everyone who has contributed to our success. As we look ahead to 2025 and celebrate 25 years of HIAA, I am confident the strong foundation we have built will allow us to take off to even greater heights.”
