By Christine Rumleskie
The North Peace Airport is looking at increasing its leasing fees soon.
Acting Managing Director Mike Kandert confirmed on Wednesday that the airport is currently reviewing its leasing rates.
Kandert says it’s a fairly common practice for airports to adjust their leasing fees, based on the appraisal value of the land. The airport has recently undergone an appraisal, and Kandert says leasing fees will need to be bumped up.
Currently, land rentals sit at 55 cents per square metre for serviced land, and 32 cents per square metre for unserviced land.
Airport terminal space varies from $320 per square metre for counter space, to $132 per square metre for storage space.
The undisclosed increase was supposed to take effect on March 1st, but feedback from renters has prompted discussion with the North Peace Airport Services.
Kandert says a firm number on the rate increase has yet to be established.
Once the increased leasing fees take effect, the costs can be passed on to the consumer. But, Kandert says he doesn’t anticipate any significant fare-hikes, because airport fees represent only 4% of an airline’s operating cost.