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With his facility facing at least a $70-million shortfall this year amid the nosedive in air traffic during the pandemic, the CEO of the Ottawa International Airport Authority is calling for millions of dollars in federal and provincial aid to help finance the terminal’s planned LRT station and pay for rapid COVID-19 testing.
In a recent interview with OBJ, Mark Laroche said that just one million passengers are expected to pass through the Ottawa terminal in 2021, down from 1.4 million in 2020 and 5.1 million two years ago.
A non-profit organization, the airport authority generates virtually all of its revenues from landing fees charged to airlines, terminal and airport improvement fees levied on passengers as well as concessions and parking.
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A little more than 10 years ago, Karim Nasser rode to the rescue.
The retired University of Saskatchewan professor and Saskatoon developer took control of a project to build an office-condominium-hotel complex on the province’s hottest piece of real estate.
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Try refreshing your browser, or Tank: River Landing complex a sign of optimism for Saskatoon in 2021 Back to video
Nasser, an immigrant from Lebanon, and his company Victory Majors Investments Corp., kept alive a deal with the city to build a mega-project on Parcel Y at River Landing minutes before the pact expired.