The Greater Toronto Airports Authority (GTAA) is pleased to announce a reduction in fees charged to airlines for all services as of January 1, 2008. Landing fees will be reduced by 3.1% and terminal charges will be reduced by 4.7%.

"This is fantastic news for our airline partners,” said Lloyd McCoomb, President and CEO of the GTAA. “By pricing Toronto Pearson more competitively we are able to decrease the cost of doing business, which is good for airlines, good for passengers and good for the region."

Mr. McCoomb gave high praise to employees of the GTAA for their ideas to increase revenue and efficiencies. "The people that keep this airport running have stepped up and shown initiative in suggesting ways to make Toronto Pearson more competitive. We are proud of all of their work, and are pleased to pass the savings on to the airlines."

The GTAA will continue to work to make Toronto Pearson competitive through cost containment, revenue generation and by working with air carrier partners.

Landing fees are charged to the airlines to operate at Toronto Pearson, the busiest airport in Canada. Terminal charges are set to cover the operating costs for the common areas in the passenger terminals.