Montreal air cargo hub Mirabel gets C$107 million boost

Montreal–Mirabel International Airport will get C$107 in investments to improve air freight and logistics at the cargo-only facility, which also hosts a production site for the Airbus 220 aircraft.

Minister of Transport Marc Garneau announced the investment of C$50 million (a Canadian dollar equals US$0.75) from the federal government and C$57 million from the airport authority on September 3. It will fund improvements to the tarmac and road network, an increase in aircraft parking and the construction of a 215,000-square foot warehouse dedicated to air freight. 

While Mirabel’s 88,000 metric tons accounted for just 6 percent of total Canadian air cargo volumes in 2018, it plays a vital role as hub for aerospace companies and their suppliers. Cargo carriers operating there include Fedex (NYSE:FDX), DHL, UPS (NYSE: UPS), Purolator and Cargojet (CJT:TO).

Mirabel stopped handling passenger traffic in 2004. But it serves as the heart of Canada’s aerospace industry, including Bombardier, Airbus (EADSF) and Bell. The Airbus 220 program has given a much-needed boost to an industry in long-term decline.