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OTPP's Airports Embark on Capital Improvements Amidst Potential Opportunities in Canada
Justin Lee
April 30, 2024
© Daniel Mennerich / Flickr
The airports in the investment portfolio of the Ontario Teacher’s Pension Plan (OTPP) saw significant recovery from the pandemic in 2023.
Increased passenger traffic has given OTPP’s airports the confidence to embark on further capital expansion projects. In addition, further airport investment opportunities may appear for pension funds like OTPP in its home ground in Canada.
According to the UK’s Civil Aviation Authority, Birmingham Airport handled 11.5 million passengers in 2023, 19% higher than the 9.6 million passengers it handled in 2022.
While Birmingham Airport’s passenger numbers for 2023 were still 83% that of pre-pandemic levels in 2019, the number of departing passengers exceeded pre-pandemic levels for the first time by October 2023. Some 1,106,000 passengers travelled through the airport compared to 1,101,000 in October four years ago.
© Elliott Brown / Wikipedia
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