A DECADE OF GROWTH AND ANOTHER YEAR CROWNED WITH SUCCESS

March 21, 2013– The Chair of the Board of Aéroport de Québec inc. (AQi), Mr. André Fortin, along with the President and CEO of AQi, Mr. Gaëtan Gagné, presented the 2012 Annual Report today at the company’s Annual Public Meeting. After ten years of growth, the company has once again shown remarkable performance in 2012 with excellent results in all respects.

New Record For Traffic

In 2012, Québec City Jean Lesage International Airport (YQB) saw a 2.2% increase in traffic and a record number of passengers – 1,342,840 – passing through its gates. « In the past five years, passenger traffic has grown by an impressive 53%. And over a ten-year period, the growth rate is 121%. Results like this are no accident. Rather, they reflect AQi’s concerted efforts to update our facilities. Our performance is testimony to our desire to give our passengers state-of-the-art facilities to make their experience unique and memorable,” Mr. Gagné said.

Committed to accelerate its development and affirm its role of economic lever in the region, AQi continued YQB’s second phase of development in 2012 with investments of $225 million between now and 2016. “Our company’s growth potential is remarkable and we’ve got great plans. Ultimately, our passengers are the ones who benefit the most from our expansion projects. They get more flights from Québec City at a better price”, Mr. Gagné added, noting that they must also maintain and operate existing infrastructure such as runways, taxiways, fire department, snow removal equipment and lighting systems.

Sound Financial Management

As with passenger traffic, financial performance was very impressive in 2012. Net revenues, at $9.6 million dollars, were up 6.8% compared to the previous year. Revenues were up 7.4% to $42.8 million whereas expenses were up 8.7% to $32.1 million. AQI has set a long term objective of diversifying revenue streams so that 70% comes from non-aeronautical sources, leaving 30% for aeronautical fees. To achieve this, AQi will continue to focus on real estate development and concession revenues.

“AQi works unrelentingly to optimize risk management. Our work in this area has earned kudos in the industry, where AQi is held up as a model,” said Mr. Fortin.

Overwhelming support

AQi creates a sense of belonging and trust in the community as was shown by the survey carried out last January by Som. In fact, 92% of the people residing in the census metropolitan area of Québec have a good opinion of YQB. Their support for the plans and projects is also impressive since 94% of the people surveyed consider the airport’s development is important for the region’s economic development. Finally, 93% of the population are in agreement with the investments of $225 million between now and 2016 in order to continue the airport’s infrastructure development and increase capacity at YQB.

Multi-story Parking Facility

At the meeting, AQi’s directors gave some particulars about the construction work that is to begin soon on the multi-story parking facility. « With over 1,150 spots, our multi-story parking facility will make life significantly easier for our passengers. Not only will we be offering more parking spots, but passengers will be able to park inside, something that will be greatly appreciated in the winter”, concluded Mr. Gagné. Since November 1, 2000, Aéroport de Québec inc. has been responsible for the management, operation, maintenance and development of the Québec City Jean Lesage International Airport. Approximately a dozen carriers offer multiple connections to various destinations in North America, Central America, the Caribbean, Mexico and Europe, over 50 direct flights a day to major cities in Eastern Canada and the United States, such as Montréal, Toronto, New York, Chicago and Philadelphia and, in winter, over 45 chartered flights a week to sun destinations as well as Paris and Marseille in the summer.

PASSENGER FIRST ®

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