Canada Line one of YVR’s many long-term investments in community
YVR’s $300 million investment a testament to the airport’s unique operating model
Since its completion in 2009, the Canada Line has consistently exceeded ridership expectations. Not only has the north-south SkyTrain route made getting to Vancouver International Airport (YVR) easier, but the resulting reduction in traffic has been good for the environment (not to mention commuters’ sanity).
YVR, Vancouver Airport Authority, was a prime investor in the project. The company invested $300 million towards adding the Sea Island (home to the airport) portion of the rapid transit system to the Canada Line — an investment enabled by the company’s not-forprofit operating model, which allows YVR to reinvest profits back into the airport and the communities it serves, including ambitious projects like the Canada Line Rapid Transit system.
“We take a longer-term approach to the investments we make,” said YVR president and CEO, Craig Richmond. “Rather than simply generating profits for the shorter-term interests of private shareholders, we can focus on supporting local communities and improving our customers’ experience.”
In 2016, approximately 2.88 million passengers used the Canada Line to travel to and from YVR — a figure that places YVR among some of the highest airport transit ridership in North America, with 25 per cent of the people coming to YVR arriving on the Canada Line and buses.
The company’s investment in the Canada Line is both a testament to YVR’s commitment to serving the long-term needs of its communities — and its broader commitment to sustainability.
“Our investment in the Canada Line has helped us both improve ground access to the airport and responsibly minimize our environmental footprint,” Richmond said.
Now in year four of its five-year Environmental Management Plan, YVR is committed to meeting the aggressive targets within the plan to reduce emissions, waste and potable water consumption by 2020. In 2016, YVR diverted 51 per cent of its terminal waste, exceeding its 2020 target of 50 per cent. These accomplishments led to YVR taking first place for the 2016 Airports Council International’s North America Environmental Achievement Award.
And the Environmental Achievement Award was not the first time YVR has been recognized internationally for excellence. Earlier this year, YVR was named the Best Airport in North America for a record ninth consecutive year by the Skytrax Awards, which are based on an independent survey of more than 13 million passengers from over 100 countries, and in 2016, the CAPA Centre for Aviation recognized YVR as the world’s best airport, making special note of the company’s unique governance model.
The company’s unique governance model is also why — in addition to investing hundreds of millions in the Canada Line — YVR donates more than $1 million annually to local organizations like the YVR Art Foundation, Pacific Salmon Foundation and Canucks Autism Network, among many others.
“We support these community partners without any government funding, through non-aeronautical revenue sources, which accounted for 44.2 per cent of our revenue last year,” Richmond said.
The airport’s non-aeronautical sources of revenues include sales of its BORDERXPRESS kiosks, which automate the border process for passengers and were developed by YVR’s own Innovative Travel Solutions. Since 2009, more than 1,300 kiosks have been sold to airport and seaport locations across North America and the Caribbean.
Much like YVR’s investment in the Canada Line, these kiosks serve as a physical embodiment of the airport’s reputation for putting the needs of its customers first.
Approaching a near decade since its original investment, the company’s role in the construction of the Canada Line remains a proud achievement for YVR, and a key proof point of the success of its operating model.
“Because of our not-for-profit operating model — which enables us to reinvest all profits generated back into improving the airport and supporting the communities we serve — we were able to help address the long-term need for sustainable transportation to the airport,” Richmond said.