KELOWNA – Ron Cannan, Member of Parliament for Kelowna-Lake Country, on behalf of Lisa Raitt, Minister of Transport, has announced that the Government of Canada is extending the term of its lease with the City of Kelowna for the management, operation and development of the Kelowna International Airport (YLW). The lease is being extended for an additional period of 20 years under existing conditions, and will now expire on December 31, 2054.
“The Kelowna International Airport is a vital transportation link in the southern interior of British Columbia and its value extends to all sectors of the economy,” says Cannan. “I am pleased to provide this 20-year lease extension which means continued prosperity for the Airport, its passengers and businesses and communities in the surrounding region.”
This lease amendment will help ensure the continued viability of the Kelowna International Airport and will allow the City of Kelowna to invest in airport infrastructure and capital projects on airport lands that require more than 20 years to realize sufficient return on investment.
“This 20-year lease extension is so important for the entire Okanagan region,” says Kelowna Mayor Colin Basran. “With security until 2054, the airport will be able to attract long-term business partners and development projects, and increase the positive economic impact that YLW has on the community.”
Quick Facts:
- The Kelowna International Airport was built and operated by the City of Kelowna until it was transferred to Transport Canada in 1959 and was immediately leased back to the City of Kelowna under a long-term lease.
- YLW’s total economic impact is 2,730 jobs and $610 million in total economic output to the province of British Columbia.
- Serving 1.6 million passengers in 2014, YLW offers 66 daily non-stop commercial flights with six airlines to Vancouver, Calgary, Toronto, Seattle, Victoria, Prince George, Edmonton, Cranbrook, Whitehorse and Fort McMurray, plus seasonal service to Las Vegas, Phoenix, Los Cabos, Puerto Vallarta, Ixtapa/Zihautanejo, Cancun and Varadero.
For more information, please visit: http://www.kelowna.ca/cm/page68.aspx/.