After enduring drastic declines in passenger volumes during the pandemic, the London International Airport is getting some help.
It was announced Tuesday that the airport is getting a $4.5 million grant from the Federal Economic Development Agency for Southern Ontario. The money will help the airport cover operating expenses as it emerges from the pandemic.
It has been a difficult 16 months for the airport, which has seen passenger volumes decline by roughly 90 per cent due to travel restrictions brought on by COVID-19. Outgoing President and CEO Mike Seabrook, who will retire at the end of the year, says the funding will help the airport recover.
“We are grateful to receive the non-repayable FedDev Ontario support that will aid our recovery and help us get back on our feet, as London International Airport faces a profound impact from the pandemic," Seabrook said. "This support will help us keep jobs and cover operating expenses as passengers make their return to travel through southwestern Ontario’s ‘easy and comfortable’ airport.”
Tuesday's announcement was made by local MP's Kate Young and Peter Fragiskatos. London Mayor Ed Holder was also at the announcement. He echoed Seabrook's comments about the importance of the funding.
“The role played by London International Airport in our city’s transportation strategy is absolutely vital, and the sky is truly the limit when forecasting its potential," Holder said. "Prior to the pandemic, the London International Airport had seen record growth across all meaningful metrics. As restrictions continue to ease, and traveller confidence increases, this investment will help ensure the airport is exceptionally well-positioned to once again establish itself as southwestern Ontario’s premier hub for air travel."