The Government of Canada has extended the term of its lease with the City of Kelowna for the management, operation and development of Kelowna International Airport, British Columbia. The lease has been extended by 20 years and will now expire on December 31, 2054.
The lease amendment will help ensure the continued viability of Kelowna International Airport and will allow the City of Kelowna to invest in airport infrastructure and capital projects that require more than 20 years to realize a sufficient return on investment.
Ron Cannan, MP for Kelowna–Lake Country, said, “The Kelowna International Airport is a vital transportation link in the southern interior of British Columbia and its value extends to all sectors of the economy. I am pleased to provide this 20-year lease extension which means continued prosperity for the airport, its passengers and businesses and communities in the surrounding region.”
Colin Basran, mayor of the City of Kelowna, said, “This 20-year lease extension is so important for the entire Okanagan region. With security until 2054, the airport will be able to attract long-term business partners and development projects, and increase the positive economic impact that the airport has on the community.”
