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July 12, 2007 | General

Edmonton — Edmonton Airports congratulates Minister LaPierre and his staff’s committed efforts in successfully defining a fair, equitable rent agreement for Canada’s airports.

Edmonton Airports’ 2006 rent was scheduled to increase from $4.3 million (2005) to $22.6 million. With this new rent agreement, Edmonton Airports will pay approximately $4.3 million in 2006, and 2007, with a modest increase in the immediate years following.

Reg Milley, President and CEO of Edmonton Airports states, “We have been extremely pleased with Minister LaPierre’s resolve in solving this problem, and we offer our support for this solution to the rent issue.” Milley also remarked, “This agreement demonstrates the federal government’s commitment and recognition of the significant impact viable airports have in supporting communities, businesses and economic development.”

Community partners have worked diligently with Edmonton Airports to demonstrate the need to reduce airport rents. Mayor Mandel, the Edmonton Chamber of Commerce, Edmonton Economic Development Corporation, and the Alberta Capital Region Alliance have consistently described our community’s concerns publicly and directly to government.

“The cooperation and support that this region offered was invaluable in demonstrating that this issue was more than an airport issue; it was a community issue that urgently needed to be addressed,” commented Milley. “Edmonton Airports extends its sincere appreciation to these community leaders.”

Without this rent agreement, Edmonton Airports would have been required to pay $22.6 million in 2006, a 400+% increase over the $4.3 million paid in 2005. Excessive airport rents have a detrimental impact on the health of the entire aviation industry. Airports are not-for-profit authorities, and as such rent increases must be recovered through increasing rates and fees to airport tenants, airlines and ultimately, air travellers.

Canadian airports overall generate $34 billion in economic activity and are responsible for 300,000 Canadians earning their livings directly or indirectly from airport activities.

Edmonton Airports is a not-for-profit organization mandated to manage the region’s airport assets on behalf of and in the best interest of the community.