GTAA Revenue Rises 5.8% in Q3 2026
by Marsha Mowers
Toronto Pearson International Airport. Bruce Parkinson photo.
The Greater Toronto Airports Authority (GTAA) reported its third quarter earnings which saw steady financial results that signal growth into 2026.
Total revenue for the third quarter reached $562.2 million, up 5.8% from the same period in 2024. Year-to-date revenue climbed to $1.57 billion, an increase of 5.7%, primarily reflecting rate and fee adjustments, higher aviation activity, and modest passenger growth.
The airport reported net income of $138.6 million for the third quarter, up 13.3%, and $317.7 million year-to-date, an increase of 12.5% over 2024 — supported by higher revenues offset by increased expenses.
Earnings before interest, financing costs, and amortization (EBITDA) rose to $291.6 million for the third quarter — up 6.1% year-over-year — while year-to-date EBITDA reached $769.3 million, up 4.7%.
Earnings before interest, financing costs, and amortization (EBITDA) rose to $291.6 million for the third quarter — up 6.1% year-over-year — while year-to-date EBITDA reached $769.3 million, up 4.7%. The gains were driven by increased aeronautical fees and Airport Improvement Fees (AIF), partially offset by higher operating costs and disruptions linked to the strike by Air Canada flight attendants in August.
Pearson’s EBITDA margin for the quarter improved slightly to 51.9%, up 0.2 percentage points, while the year-to-date margin edged down to 49.0%, reflecting the impact of extreme weather, a five-day runway closure due to the Delta Airlines crash earlier in February, and the flight attendant strike in August.
