Comox Valley Airport. File photo

Comox Valley Airport in ‘good stead to weather the financial turbulence’ from COVID-19

CVAC released accountability report following its annual public meeting

Despite the impact of COVID-19 on the aviation industry, the Comox Valley Airport Commission ended its fiscal year in a secure financial position.

That’s according to its recently-released Accountability Report which followed the annual public meeting held (digitally) June 24.

The report stated that the Comox Valley Airport’s financial position has “positive net cash flow and zero debt. This stands us in good stead to weather the financial turbulence created by the pandemic.”

The total surplus within the 2019/2020 year sat at $1,012,667, down from the 2018/2019 surplus of $2,223,790. The report notes the surplus reduction is due to a write-down following the revised market appraisal of an adjacent lot.

RELATED: More flights slowly set to take off at Comox Airport

The fiscal year, which ended March 31, 2020, saw near-record passenger volume with more than 396,000 passengers using YQQ.

The impact of the grounding of Boeing 737 Max 8 aircraft in early 2019 resulted in a loss of fleet capacity for both WestJet and Air Canada, however, CVAC retained the routes served and flight frequency.

In November, CEO Fred Bigelow took long-term leave for health reasons and the commission is led by acting CEO Alex Robertson and CVAC chair Martin Crilly.

In terms of the impact of COVID-19 on YQQ specifically, the report indicates the commission was prepared and invoked its own emergency plan while acting promptly to protect passengers, employees and the public with new operating protocols and procedures. The airport remains open with limited flights to support essential and humanitarian travel.

Some of the capital expenditures incurred throughout the previous year include an HVAC system compressor replacement; apron assessment; increased seating and tables, eco-flex walkways in gravel lots and a public bike station.

The report identified four goals for YQQ: air service; maintaining a viable master plan; remain financially viable and competitive and attract and retain employees.

One of the goals within the master plan is to initiate a review utilizing lessons from COVID-19.

Currently, WestJet and Pacific Coastal airlines are operating on reduced flight schedules from the airport. For more information, visit

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Comox Valley Community Foundation allots more COVID-19 emergency response money

11 local groups share $52,500 in latest round of grant distribution

Dog rescued from bottom of well by Oyster River Fire Department

Mini the chihuahua mix fell more than 20 feet

Mega 50/50 draw to raise funds for Comox Valley kids

Help Fill A Dream 50/50 draw worth up to $25,000

Search and rescue crews continue to look for missing Black Creek hiker

Searchers scouring Strathcona Park near Gold River for experienced 65-year-old on 40-kilometre trek

Piercy Creek habitat assessment project launched

For more than 20 years, Millard/Piercy Watershed Stewards have worked to enhance… Continue reading

MOTIVATION MONDAY: A balancing act

Raida Bolton leads the class for today’s routine

Police issue warning after baby comes across suspected drugs in Kamloops park

The 11-month-old girl’s mother posted photos on social media showing a small plastic bag containing a purple substance

Collision results in train derailment just east of Golden

The derailment occurred Sunday night, according to a statement from CP

B.C. records 31 new cases, six deaths over three days due to COVID-19

There are 166 active cases in B.C., 16 people in hospital

B.C. highway widening job reduced, costs still up $61 million

Union-only project scales back work to widen Trans-Canada

Greater Victoria nanny pleads guilty to child porn, sexual interference charges

Johnathon Lee Robichaud pleaded guilty to slew of sex crimes

BC Wildfire Service to conduct night vision trials for helicopters in South Okanagan

This technology could assist with future firefighting operations

Most Read