Last year, EIA moved 8.15 million passengers; in 2020, it is forecast to move approximately 2.7 million passengers. Passenger traffic has reduced by approximately 95 per cent and the airport is not expected to return to 2019 passenger traffic levels until at least three years from now. Revenues have declined by approximately 90 per cent in the last two months. There is no choice but to reduce labour costs in line with the new passenger traffic reality. This will safeguard the future of our airport and its role as a not-for-profit economic catalyst in our region.
Edmonton Airports already undertook a series of aggressive cost cutting measures and examined all other alternatives before implementing workforce reductions; for example, offering voluntary unpaid leave and voluntary early retirement incentives for employees. Additionally, capital spending was cut by 75 per cent to cover only essential safety and regulatory projects and non-labour costs were reduced by
'This is a difficult and sad day for Edmonton Airports, and we regret having to take these steps. Our employees are the foundation of our organization and our contribution to our communities, and we feel this loss profoundly', said
Edmonton Airports is passionately focused on our mission to develop economic prosperity for our region, and it is extremely difficult to share this update. This news deeply impacts people and our communities. It is only after exhausting every other possible action that these steps were taken to protect the airport's ability to continue operating and enable a future recovery.
We want to acknowledge, with deep gratitude, the contributions that Edmonton Airports employees have made to our organization and surrounding communities. We will unfortunately be losing great employees from our workforce who have contributed to expanding air services for our region, provided a caring passenger service program, created jobs and prosperity, and earned an outstanding international industry reputation for
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