'This is a lifeline': London International Airport to receive $4.5M grant

London, Ont. -

The federal government has announced a $4.5 million grant to the London International Airport.

They will be used for, “anything from helping with property taxes, to utilities, to other costs that have added up through the pandemic” said Peter Fragiskatos, MP for London North Centre, who made the announcement Tuesday morning.

It’s a part of $206 million fund from the federal government, introduced earlier this spring, meant to support regional airports as they look to recover from the financial instability COVID-19 has brought on.

“This is a lifeline that’s going to help the airport regroup,” said Michael Seabrook, president and CEO of the London International Airport.

Seabrook adds the airport typically generates about $14-million in revenue which was reduced to just over $3 million last year, creating a huge deficit for the airport when factoring in expenses.

“We have everything from utilities to maintenance to municipal property tax to salary and wages, these are all things we’ve needed to maintain so the funds are going to help us with all of those areas,” said Seabrook.

It comes as the airport slowly starts to add more flights back to its schedule.

Seabrook explains the airport has gone from running four flights a day in July to six in August, and hopes to continue to steadily increase its number of flights throughout the fall.

The funding from the government will come in stages and Seabrook is hoping to receive that first installment of the funding will arrive within the next couple of months.