The City of Campbell River says it intends to enter new agreements at the Campbell River Airport to support ongoing operations, investment and growth.
The agreements are as follows:
- 35-year land lease to Ascend Aero Business Centre Inc, set to terminate on December 31, 2061, for an initial rent of $15,327.80 annually, plus GST
- 5-year land lease to VIH Helicopters Ltd., set to terminate on April 30, 2031, for an initial rent of $6,020.40 annually, plus GST.
- 10-year land lease to Sealand Flight Ltd, set to terminate on December 31, 2036, for an initial rent of $15,673.80 annually, plus GST
- 1-year Terminal Building lease to Executive Aviation Fuels (BC) Ltd., set to terminate on April 30, 2027, for an initial rent of $8,680.00 annually, plus GST
- 2-year Terminal Building lease to WestJet Encore Ltd., set to terminate on April 30, 2028, for an initial rent of $2,920.00 annually, plus GST
The city says most of the agreements involve the renewal, transfer or continuation of existing tenancies with established airport businesses.
The terminal leases with WestJet Encore and Executive Aviation Fuels are intended to support the introduction of new commercial air services.
“These agreements provide certainty for both the city and airport tenants by defining how airport lands and facilities can be used, as well as the responsibilities of each party,” said Lynsey Daur, property services manager with the city.
Daur said longer-term leases are common in the aviation industry.
“It is important to know that all leases are established at fair market value and support economic activity, aviation services and investment at the airport,” said Daur. “They also generate revenue through lease payments, fees and property taxes, helping support the airport as a community asset while advancing Council’s goals.”
