Hamilton International Airport is poised to become one of the "top 10 airports in Canada," due in part to its history and its management company.

That's the view of Mike Tretheway, president of Vancouver-based InterVistas transportation consultancy.

"It's now the 13th busiest airport in Canada. It used to be number 65," he said. "That will continue to grow and it will become one of the top 10 airports in Canada and one of the major cargo centres in North America.

"That would have not happened had (the City of Hamilton) gone for a short-term contract or tried to operate it themselves. They did a far-looking thing that was a benefit to the community."

Hamilton turned over operation of the John C. Munro Hamilton International Airport to TradePort International Corp. in 1996.

It was a different direction than that taken by many other municipalities that were handed the ownership of commercial airports by the federal government at the time.

Hamilton's 40-year lease with TradePort and the secrecy around that agreement has come under fire and was the subject of a Spectator investigative report two years ago.

Since then, TradePort's corporate structure has experienced significant change.

Last year YVR Airport Services (YVRAS), which runs the Vancouver airport, took over 100 per cent ownership of TradePort in a $13-million deal.

That transaction bought out the holdings of TradePort International founders Tony Battaglia and the Labourers' International Union of North America, Local 837. Details of the deal are in the Vancouver Airport Authority's 2006 annual financial statements.

YVRAS was a majority holder in TradePort at the time of the transaction with 57 per cent of the shares. Now a source says Citi is about to invest in 50 per cent of YVRAS. Closure of the deal, expected yesterday, has been delayed until next week.

Hamilton's unusual lease arrangement has enabled it to attract investment because companies can get a return over long periods.

"No other airport has embraced private investment as Hamilton has," said Tretheway, a former YVRAS executive.

He added that many regional airports in Canada are struggling.

YVRAS operates about 18 airports, with five in smaller cities in Canada. It is singular in its ability as a small Canadian airport management company to expand outside Canada and has a variety of partnership arrangements at its foreign airports.

For example, YVRAS operates two airports in Cyprus with its partner Hermes Airports Limited in a 25-year agreement with the government of Cyprus.

YVRAS is an equity partner in MBJ Airports Limited, a consortium of two international partners holding a 30-year concession agreement with the government of Jamaica to manage, operate and develop the airport in Montego Bay.

lmarr@thespec.com

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