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Originally Posted by LeftCoaster
Hmm, positive growth, but still more sluggish than I was anticipating this year given the all around buoyancy in the industry and the solid economic performance of BC. AsiaPac in particular has been a disappointment, don't know where all that growth went. Europe on the other hand has been a very pleasant surprise. Middling domestic numbers are no surprise, but still would like to see them up in the 3s.
Hopefully the WWC and strong tourist season ahead will give some big summer numbers.
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Relatively speaking, YVR is outperforming all major Canadian airports except YYZ. I think the weakened Alberta travel market also has a trickle effect into BC too.
Yes, Asia Pacific is a bit lower than expected. However, I think this will grow stronger through the summer and into the winter as quite a few airlines are adding capacity over the winter. Certainly seeing quite a bit of interest in YVR from the Chinese carriers.
As for Europe, this is a continuing great result. The full effect of AF is noticeable in May despite VS having pulled out. I expect this to slow down a bit over the summer as capacity is up slightly, however, I also expect planes are flying fuller.
Transborder is just incredible. Rouge certainly had a big role in these numbers. Inbound tourism thanks to the strong USD is also having a big impact.
The cruise ship season has recovered nicely from the 2010 slump. Expecting about 810,000 pax this summer compared to about 815,000 last year. Sailings are down slightly, but some of the ships are bigger.
Vancouver is also attracting quite a few big conventions including a few medical world congresses this year.
I think growth in the 3%-5% range is a healthy rate and this should continue in the short to medium term at least.
Also in the region, SEA is doing very well in pax growth terms. This is a direct result of all the new International flights added by DL plus its continuing domestic expansion needed to help fill those planes. However, they are winding back YVR and YYC over the winter. YVR falls back to 4 daily and YYC to less than twice daily so clearly not filling those planes as much as they had hoped. I think the weaker CAD is having an impact. I think YEG may have fallen off their radar due to the weakening AB travel market (hence the YYC clawback from SEA and SLC too). DL is adding YYJ-SEA next April though which I thought was quite surprising. And AS is not giving up anything to DL with their continued SEA growth too. Although, over winter AS is going back to 6 daily on the YVR-SEA route.
All in all I think YVR is still in an excellent position to continue decent solid growth.... airlines certainly seem confident with all the increases coming online.