Aéroport de Québec inc. Annual Public Meeting - Results That Reflect Passenger Satisfaction

QUEBEC CITY, March 20, 2014 /CNW Telbec/ - The Chair of the Board of Aéroport de Québec inc. (AQi), Mr. André Fortin, along with the President and CEO of AQi, Mr. Gaëtan Gagné, presented the 2013 Annual Report today at the company's Annual Public Meeting. Once again, 2013 has been crowned with success and the company has distinguished itself by setting new records and maintaining a commendable level of passenger and community satisfaction.

New Record For Traffic

For the 11^th year running, Québec City Jean Lesage International Airport (YQB) posted a new record with 1,475,717 passengers, a 9.9% increase year over year. This exceptional result is the fruit of a considerable increase in the number of passengers travelling through all parts of the YQB facility. The transborder flight sector took top honors this past year, growing by 10.7% year over year. The international and domestic sectors grew by 5.4% and 1.9% respectively.

"This increase in traffic is also sustained by an increasingly broad selection of flights. Today, more than 10 airlines offer multiple routes to destinations in North America, Central America, the Caribbean, Mexico and Europe. The considerable effort and investment involved in developing and improving our infrastructure in order to accommodate more airlines, thereby expanding our flight offering and encouraging competition, are beneficial for our passengers", said Mr. Gagné.

Best Airport in North America

YQB was named the best airport in North America in its category in 2010 and 2011—a title YQB reclaimed in 2013. "We are extremely proud of these results, particularly since we were involved in an extended period of construction requiring increased understanding and cooperation on behalf of our passengers. Clearly, our efforts to keep things running smoothly and preserve the outstanding level of service we aspire to were a success!", declared Mr. Gagné.

In addition to the ASQ survey, an annual SOM study measures the community's degree of satisfaction with YQB's projects. Once again this year respondents unanimously declared their satisfaction, while 92% have a very good or good opinion of YQB, 94% of the people surveyed consider the airport's development is important for the region's economic development and 93% of the population are in agreement with YQB's investments.

Several projects to support ongoing growth

2013 was also a year to pursue major projects part of the second phase of the modernization project. One of these projects is the multi-level parking facility, launched in May 2013 and to be completed in June 2014. On December 20, 2013, a level was opened to the public and all 1,150 spaces will be available in June 2014.

Progress was also made on another major project this past year: construction of a brand new combined services center. The fruit of a nearly $30 million investment, this modern complex will unite the fire station, maintenance staff, and roughly 60 operational vehicles under a single roof as of next year.

These projects, along with other civil work, will open the way for the international zone expansion in the fall of 2014.

Outstanding Financial Results

Financial results for 2013 are again a testament to excellent management in this area. AQi posted net earnings of $11.3 million in 2013, an increase of 18.48% compared to 2012. Revenues totaled $48.2 million, up 9.9% and operating expenses were $36.9 million, an increase of 7.59%. Not only do these results speak to the success of AQi's orientations, they will also help sustain development projects and benefit the local population as well as that of Eastern Québec. EBITDA was $21.6 million, up 11.12% compared to 2012.

"We are very proud of our financial results. They reflect the excellent planning by our team and close monitoring of all inherent operating risks by all members of the Board", said Mr. Fortin.

Also, a study conducted in 2013 by the Conference Board of Canada showed that YQB plays an important role not only in the Québec City region's economic development but as well as in that of the entire province and country, generating an annual GDP of $425 million and sustaining some 4,500 jobs across the country.

Since November 1, 2000, Aéroport de Québec inc. has been responsible for the management, operation, maintenance and development of the Québec City Jean Lesage International Airport. Approximately a dozen carriers offer multiple connections to various destinations in North America, Central America, the Caribbean, Mexico and Europe, over 50 direct flights a day to major cities in Eastern Canada and the United States, such as Montréal, Toronto, New York, Chicago and Philadelphia and, in winter, over 45 chartered flights a week to sun destinations as well as Paris and Marseille in the summer.

PASSENGER FIRST ®

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SOURCE: Aéroport de Québec

Jonathan Trudeau, Director, Communication, Aéroport de Québec inc., Tel. : [phone] ext. 2625