TORONTO - Cargo landing fees at Toronto's Pearson Airport will go down by 25 per cent at the start of next year, says the agency that runs the airport.
The Greater Toronto Airports Authority is cutting the fees on Jan. 1 to keep the airport competitive as a cargo-shipping hub.
Airport officials hope the move will encourage additional cargo business and push carriers to modernize their fleets to newer, quieter and more fuel-efficient aircraft.
The GTAA says it estimates the fee reduction could remove up to 40,000 trucks per year from Ontario roads.
Pearson processes more than 45 per cent of Canada's air cargo, about $32 billion worth of goods -- more than 500,000 tonnes of cargo -- every year.
Transportation companies are contending with oil prices that have risen more than 90 per cent over the past year, driving up their cost of doing business.
