Toronto Pearson welcomes 12.4M passengers in Q2, traffic climbs 3.3%

Toronto Pearson airport (YYZ) welcomed more passengers and reported higher revenue and operating earnings in the second quarter of 2026, with strong domestic demand helping offset continued weakness in travel to the United States.

The Greater Toronto Airports Authority (GTAA) said Wednesday (Aug. 5) that Canada's busiest airport handled 12.4 million passengers between April and June, up 3.3 per cent from the same period last year.

Year-to-date traffic reached 23.5 million passengers, a 3.5 per cent increase over the first half of 2025.

While international travel to the U.S. remained under pressure, the GTAA said growth was fuelled by modest gains in other international markets and robust domestic demand as more Canadians opted to travel within Canada.

"Toronto Pearson delivered steady growth in the second quarter of 2026, supported by domestic demand, international passenger growth and smooth, efficient ecosystem operations during the FIFA World Cup. With passenger volumes up over 3% for the quarter and year-to-date, alongside growth in revenue and EBITDA, these results reflect the competitive position of our airport and the advancement of our strategic priorities," said Deborah Flint, president and CEO of the GTAA, in a press release. 

Revenue climbed 8.8 per cent in the second quarter to $566.6 million, while first-half revenue increased 8.0 per cent to $1.09 billion.

The GTAA attributed the gains to higher rates and fees, increased aviation activity and growing passenger traffic.

Second-quarter EBITDA rose 6.2 per cent to $277.2 million, while year-to-date EBITDA increased 8.1 per cent to $516.5 million.

The airport authority said the improvement was driven by stronger aeronautical fees, Airport Improvement Fee (AIF) revenue, passenger volumes and commercial revenue, partially offset by higher operating costs.

Net income for the quarter rose 16.2 per cent to $127.5 million. However, first-half net income slipped 5.4 per cent to $169.5 million, primarily due to an asset write-down recorded during the first quarter.

Flint said the airport also continues to make progress on its long-term infrastructure program.

"The momentum of Pearson's LIFT program is demonstrated by the award of the contract and formal launch of the T1/T3 Revitalization program, and final stages of the inflight procurement for the Gateway programs. The pace of LIFT is essential to strengthening Toronto Pearson's role as a vital connector for people, businesses and goods, and generating economic impact, while positioning the airport for long-term growth," she said.

The GTAA said it continues to monitor the global economic and political landscape and is adapting its plans in response to ongoing economic uncertainty.

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