Rendering of the future design of the Montreal-Trudeau International Airport. (CNW Group/Canada Infrastructure Bank)
Canada Infrastructure Bank (CIB) and ADM Aeroports de Montreal have achieved financial close on a $1 billion loan that will support large-scale infrastructure improvements at YUL Montreal-Trudeau International Airport.
With YUL’s travel volumes having surpassed pre-pandemic levels and with the airport recording the highest growth amongst large Canadian airports, the airport authority for the greater Montreal area recently unveiled its ADM Flight Plan 2028-2035, a $10 billion, 10-year capital improvement plan that it says is needed to keep pace with demand.
A vital connection to global markets and a key gateway and trade corridor into Canada, the airport authority says that, by 2028, YUL’s planned infrastructure investments will contribute nearly $3.7 billion in GDP. Additionally, the anticipated growth in passenger traffic supported by these facilities will create up to 9,000 additional jobs, adding to the 59,388 jobs already supported by YUL.
CIB’s investment will help advance projects under YUL’s Flight Plan, including improved access to the airport and new airside infrastructure aimed at enhancing domestic and international travel and trade.
“As ADM works hard to build the airport of tomorrow, support from partners such as the Canada Infrastructure Bank enables us to secure the necessary resources to achieve our objectives,” stated ADM Aeroports de Montreal CEO Yves Beauchamp. “YUL’s development plan is extensive, but essential to ensure that our international airport can continue to accommodate growing passenger numbers and meet the expectations and needs of its users.”
Cityside upgrades are scheduled to include the reconfiguration of airport access roads, construction of new parking areas and pick-up and drop-off points, and a new building to connect the future YUL-Montreal-Trudeau Airport REM station to the terminal.
Terminal and airside upgrades include systems allowing for an increase in baggage handling capacity, construction of a new satellite jetty with additional gates and passenger processing areas. Further improvements include new infrastructure to optimize aircraft operations including new taxiways and tarmacs to ensure sufficient capacity and operational flexibility.
With passenger volumes expected to reach 25 million by 2028 and between 30 to 35 million by 2035, the airport authority says continued investment in critical infrastructure is essential, explaining that this set of upgrades will help the airport support future growth, maintain operational efficiency and deliver quality service to airport users.
The project is being financed through the CIB’s trade and transportation sector, which supports developing stronger, more efficient trade and transportation corridors to domestic and international markets.
“We are proud to invest alongside Aeroports de Montreal as they make the largest infrastructure investment in the airport’s history and the CIB’s largest airport investment to date,” stated Ehren Cory, CEO of Canada Infrastructure Bank. “Improvements will support an added $3.7 billion in GDP, economic opportunities with more jobs and strengthen Canada’s global connectivity.”
