The Toronto Port Authority is asking the federal government for up to $100 million to improve airport access and traffic conditions at the Billy Bishop Toronto City Airport.
The TPA, which owns and operates the island airport, presented the infrastructure funding proposal under the Building Canada Fund on behalf of the City of Toronto.
"As a self-sufficient government business enterprise, the TPA's financial resources are finite, and the cost of the proposed runway extension, when combined with the airport's ongoing capital expenditures needs, is expected to consume the TPA's remaining available borrowing capacity," TPA chairman Mark McQueen said in a statement.
Toronto city council is considering a proposal from Porter Airlines to extend the runways at Billy Bishop airport to accommodate larger planes, including Bombardier CSeries jets.
Currently, only small turboprop engine planes can fly in and out of the waterfront airport. In order to allow larger planes, the airport would need to stretch its runways from 200 metres at each end, Porter says.
The expansion would allow the airline to further increase its service, which has risen from 26,000 passengers in 2006 to 2.3 million in 2013.
In a report released in November, the city's executive committee said Porter's request was "premature" given that the costs of supporting the necessary infrastructure were still in question.
"There is not a clear direction or plan for airport expansion, what airside and groundside infrastructure requirements are necessary and how they will be funded," the report states.
The TPA has been asked by city staff to attend a public meeting on Monday, as part of a series of public consultations on the request.
