Comox Valley Airport

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Quarterly Reports
< Back to Quarterly Reports 2005 - First Quarter Comox Valley Airport Commission - First Quarter Report 2005 CVAC's Mission In 1996, the community leaders assigned specific tasks to the Airport Commission by way of the Letters Patent. In consultation with the stakeholders, the Commission defined their responsibilities through the following mission statement: "To operate safe, secure and efficient aviation facilities which consistently exceed the expectations of our customers and communities." To meet this mission, CVAC has established four performance targets with measurable goals. These targets are based on a five-year timetable; CVAC is entering the third year of the five-year plan. 1. Passenger Target - 200,000 Passengers Annually By the end of 2007, CVAC intends to fly 200,000 passengers annually. This goal is being achieved through regional market development primarily through tourism and a continued focus on customer service. Passenger growth for 2005 continues to be strong with regional growth being serviced by WestJet, which is particularly strong. To meet this demand, WestJet has added additional flights and utilizes the larger 700 series aircraft for all flights. At the present growth rate, the 200,000 annual passenger goal will be met in 2005. 2. Restricted Capital Reserve - $500,000 Annually The Board has met this goal for several years and has committed the current capital reserve to complete the airside construction. The airside construction has started and is anticipated to take sixteen weeks. The cash flow to provide the capital reserve for FY 05/06 has been committed to the airside project as well. 3. Customer Satisfaction Ranking - 4.0 "To exceed the expectations of our customers and communities" it is necessary to offer a high degree of customer service. Customer satisfaction is measured annually through a program administered by the Canadian Airports Council. In 2004 the Comox Valley Airport received a first place ranking of 4.49, a significant improvement from the 3.52 ranking at the old terminal in 2003. This year's survey will take place in August and should provide very positive results. 4. Share of Regional Passengers - 60% CVAC's market share of regional passengers for 2004 was 50%. Market share is determined by comparing the passenger totals of the Comox Valley, Campbell River and Nanaimo Airports. The Comox Valley Airport market share will only increase marginally this year until new air service is provided. A direct connection to the US marketplace is critical air service for the north/central Island and will increase CVAC's market share. The Comox Valley Airport Commission is actively pursuing air service to the United States. The additional airside available through the current construction program will allow CVAC to pursue new air service opportunities. Fiscal Year 2005/2006 Outlook Customer response to the new air terminal building has been very positive. This has lead to increased use, fostered by regional tourism marketing and market awareness of the region. In anticipation of continued growth, CVAC has commissioned a Master Plan to define the infrastructure requirements for the airport for the next thirty years. Increased airport usage will have an impact on the community infrastructure as well. With increasing passenger numbers, improved roads and signage will be necessary over time to accommodate that growth. A critical component of the Master Plan will be passenger forecasting which should be of value to municipal planners.

Quarterly Reports

< Back to Quarterly Reports

2005 - First Quarter

Comox Valley Airport Commission - First Quarter Report 2005

CVAC's Mission

In 1996, the community leaders assigned specific tasks to the Airport Commission by way of the Letters Patent. In consultation with

the stakeholders, the Commission defined their responsibilities through the following mission statement: "To operate safe, secure and efficient aviation facilities which consistently exceed the expectations of our customers and communities." To meet this mission, CVAC has established four performance targets with measurable goals. These targets are based on a five-year timetable; CVAC is entering the third year of the five-year plan.

1. Passenger Target - 200,000 Passengers Annually

By the end of 2007, CVAC intends to fly 200,000 passengers annually. This goal is being achieved through regional market development primarily through tourism and a continued focus on customer service. Passenger growth for 2005 continues to be strong with regional growth

being serviced by WestJet, which is particularly strong. To meet this demand, WestJet has added additional flights and utilizes the larger 700 series aircraft for all flights. At the present growth rate, the 200,000 annual passenger goal will be met in 2005.

2. Restricted Capital Reserve - $500,000 Annually

The Board has met this goal for several years and has committed the current capital reserve to complete the airside construction. The airside construction has started and is anticipated to take sixteen weeks. The cash flow to provide the capital reserve for FY 05/06 has been committed to the airside project as well.

3. Customer Satisfaction Ranking - 4.0

"To exceed the expectations of our customers and communities" it is necessary to offer a high degree of customer service. Customer satisfaction is measured annually through a program administered by the Canadian Airports Council. In 2004 the Comox Valley Airport received a first place ranking of 4.49, a significant improvement from the 3.52 ranking at the old terminal in 2003. This year's survey will take place in August and should provide very positive results.

4. Share of Regional Passengers - 60%

CVAC's market share of regional passengers for 2004 was 50%. Market share is determined by comparing the passenger totals of the Comox Valley, Campbell River and Nanaimo Airports. The Comox Valley Airport market share will only increase marginally this year until new air service is provided. A direct connection to the US marketplace is critical air service for the north/central Island and will increase CVAC's market share. The Comox Valley Airport Commission is actively pursuing air service to the United States. The additional airside available through the current construction program will allow CVAC to pursue new air service opportunities.

Fiscal Year 2005/2006 Outlook

Customer response to the new air terminal building has been very positive. This has lead to increased use, fostered by regional tourism marketing and market awareness of the region. In anticipation of continued growth, CVAC has commissioned a Master Plan to define the infrastructure requirements for the airport for the next thirty years. Increased airport usage will have an impact on the community infrastructure as well. With increasing passenger numbers, improved roads and signage will be necessary over time to accommodate that growth. A critical component of the Master Plan will be passenger forecasting which should be of value to municipal planners.

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