Toronto’s Pearson airport is launching a multibillion-dollar upgrade that aims to boost passenger numbers by more than a third to 65 million a year by the early 2030s.
The revitalization plan looks to ramp up traffic and tighten on-time performance with improvements ranging from repaved runways to “modernized retail” and possible terminal expansions.
The announcement on Monday is part of a broader infrastructure renewal and expansion program at Pearson airport dubbed Pearson LIFT (long-term investments in facilities and terminals).
Kicking off on Monday, the initial $3-billion phase revolves around an expanded airfield, better lighting systems, more electric vehicle charging and new baggage carousels.
Airport CEO Deborah Flint framed the renovations as a gateway to greater global trade and passenger satisfaction.
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“We know that in today’s time, Pearson must be ambitious, we must be dynamic and we must be transformative,” she told attendees at a news conference Monday morning.
Pearson airport is Canada’s largest with more than 47 million travellers annually, hopes to grow that figure by 35 per cent within about seven years. Flint said the initial round of investments should add capacity for three million more passengers.
She noted the role the airport plays in moving freight, highlighting that 45 per cent of cargo destined across Canada moves through Toronto Pearson.
The renewal effort comes as the government considers privatizing Canada’s federally owned airports, partly due to the massive cost of maintaining them.
With files from CityNews’ Nick Westoll