2003-01_skytalk

F R E E JANUARY 2003 • Your Airport Community Newspaper – Vancouver International Airport

Aloha Airlines Adds Non-stop Service to Kona loha Airlines has announced new non-stop service from Vancouver to Kona on the Big Island of Hawaii.

The Big Island, with its unique landscape of volcanoes, rainforests and multitude of beaches, is twice the size of all the other Hawaiian Islands combined.

The airport at Kona is located on the sunny Kona-Kohala Coast, which is the most popular destination for visitors.

Aloha Airlines launched non-stop service to Honolulu in June 2002 and then added non-stops to Maui in November.

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Beginning April 6, 2003, Aloha will offer a non-stop flight to Kona on Sundays.

Also beginning April 6, Aloha’s service between Vancouver and Honolulu will be offered on Mondays, Wednesdays and Fridays, and non-stops between Vancouver and Maui will operate on Tuesdays, Thursdays and Saturdays.

All of the Hawaii-bound flights will depart from Vancouver at 9:15 a.m. The return flights will depart in the afternoon

and arrive in Vancouver in the late evening.

Aloha offers Hawaii-bound passengers the convenience of completing U.S. Customs and immigration processing at Vancouver International Airport. Upon arrival in the Islands, there are no further formalities. Passengers can simply pick up their luggage and head for the beach.

Aloha’s flights to Honolulu continue twice weekly, non-stop to Rarotonga in the Cook Islands. (See story page 2)

Security Enhancements at South Terminal he Canadian Air Transport Security Authority (CATSA) began passenger pre-board screening (PBS) for departing flights from Vancouver International Airport’s South Terminal on Dec. 31, 2002.

As part of the new process passengers are advised to arrive 45 minutes prior to scheduled departure time, unless otherwise advised by their airline.

“Our first priority is the security of travellers and I am confident that Canadians support all the efforts to enhance their security,” said Jacques Duchesneau, CATSA’s president and CEO. Howie Parks, YVR South Terminal airport superintendent, says since the introduction of the new system everyone has adjusted very well with few complaints.

“Most people recognize SEE SECURITY the importance of these new CONTINUED ON PAGE 3

Photo: Jim Jorgenson

T (l. to r.) Soledad Barraza, Mexico Tourism Board, Danya Lembke, Tourism Vancouver, Federico Goroztieta, Consulate General of Mexico, Greg SaMdbrook operations superintendent, Airport Authority, Linda Mansell, Mexicana’s regional vice president sales and services, Jorge Winney, Mexicana’s regional vice president airports, Javier Salero, Mexicana’s airport manager, and Octavio Carrillo of the Mariachi Canada.

Mexicana Airlines YVR-to-Mexico City ast month, Mexicana Airlines launched its first non-stop YVR-toMexico City flight using an Airbus aircraft. The direct, five-days-a-week flight will arrive at YVR at 10:00 p.m. and departs at midnight for the fivehour trip to Mexico City.

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Mexicana Airlines is the leading international airline of Mexico. Its fleet is considered one of the newest in the world, serving 53 destinations in North, Central and South America, as well as the Caribbean. It is a member of Star Alliance.

If you’re catching a flight from Vancouver International Airport’s south terminal, plan on getting there 45 minutes early as a result of the airport’s new security measures.

Olympic Bid Book Arrives in Switzerland – Unveiled to the Public anada’s plans to host the 2010 Olympic Winter Games and Paralympic Winter Games were hand delivered to the International Olympic Committee (IOC) in Lausanne, Switzerland on SEE OLYMPIC BID January 9 by CONTINUED ON PAGE 3

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Staff from the 2010 Bid Corporation set up information displays in the Domestic and International terminals to answer questions and hand out information prior to the February 22 plebiscite. See page 7 for a list of community meetings, and be sure to vote.

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Aloha Begins Rarotonga Service loha Airlines began direct service to Vancouver and Rarotonga aboard next-generation Boeing 737-700 aircraft, starting this month Aloha departs Vancouver at 9:15am twice weekly arriving in Rarotaonga at 9:15pm the next day.

The return flight departs 2:40pm, arriving in Vancouver 6:40am the next day.

The new scheduled air service between Vancouver and the Cook Islands operates twice a week until April 2003. From May through September 2003, when it’s winter in the Southern Hemisphere, Aloha plans to reduce the service to once a week to match the seasonal demand.

“Following discussions with the Tourism Minister of the Cook Islands, Aloha Airlines is pleased to announce that we have agreed to provide scheduled air service to this under-served island community,” said Glenn R. Zander, Aloha’s president and chief executive officer. “Like Hawaii, Rarotonga is a popular destination for travellers from Vancouver and Southern California, which are markets we already serve. This new service will offer more options for travellers from North America and from New Zealand to reach Rarotonga, Hawaii and other Pacific points.”

Aloha will serve Rarotonga with a newly delivered extended-range 737700, the ninth in Aloha’s transpacific fleet, configured with 12 seats in First Class and 112 in Coach. “Our extended-range Boeing 737-700 aircraft is the perfect aircraft for this service, in terms of performance, passenger comfort and cost efficiency,” added Zander.

Half-way between Hawaii and New Zealand and steeped in South Pacific lore, Rarotonga boasts unparalleled opportunities for fishing, diving and snorkeling and pure relax-

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For 56 years, Aloha has served the State of Hawaii with dependable, ontime and friendly air service.

The airline operates about 850 inter-island flights weekly aboard Boeing jets between Honolulu and the main destinations of Lihue, Kauai; Kahului, Maui; and Hilo and Kona on the Big Island of Hawaii.

Aloha’s sister airline, Island Air, provides daily service between Honolulu and smaller airports on Maui, Molokai and Lanai.

For more information, visit Aloha’s Web site at www.alohaairlines.com.

Air Canada Profits Down For 2002 ir Canada flew 0.6 per cent fewer revenue passenger miles (RPMs) in December 2002 than in December 2001, according to preliminary traffic figures. Capacity increased by 2.5 per cent, resulting in a load factor of 70.0 per cent, compared to 72.1 per cent in December 2001; a decrease of 2.1 percentage points.

In comparison to December 2000, revenue passenger miles declined 3.0 per cent while capacity was reduced by 7.9 per cent. Load factor improved 3.5 percentage points.

“Our December traffic results were negatively impacted by an increase in competitive capacity in the domestic market resulting in intensified low-fare competition, particularly on the transcon routes,” said Rob Peterson, executive vice president and chief financial officer. “This had a dampening effect on domestic

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unit revenues.

“While U.S. transborder traffic and load factors were up due to stronger demand to the eastern U.S. and California, and the fact that a portion of the Thanksgiving travel period fell within December this year, we nevertheless experienced significant yield pressures within the North American market. In Asia, the solid performance of our Japan and China routes continued, while the suspension of our service to Taiwan partially offset this growth in our total Pacific figures.”

At the outset of 2002, Air Canada anticipated a return to profitability in the seasonably stronger second and third quarters. While this was achieved, the difficult global airline environment has resulted in a fourth quarter and full year operating loss for the airline.

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ation far from crowds. Some travellers say Rarotonga is reminiscent of what Hawaii was like 75 years ago.

English is the language of the Cook Islands, and the price of goods and services in New Zealand dollars is lower than in other South Pacific tourism destinations such as Tahiti.

Aloha’s First Class service features Hawaii Regional Cuisine created by award-winning master chef Alan Wong. Aloha continues to provide an enhanced level of service to all Coach Class passengers, including complementary mai-tai cocktail, ohsibori hot towel, free headsets and movie, a meal with Island flair, and

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Olympic Bid,

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Jack Poole (left) of 2010 Bid Corporation, RCMP Corporal Terry Kopan and Vancouver Mayor Larry Campbell hold the Bid Book. Map shows YVR and Vancouver high-speed vessel connection to Squamish and bus connection to Whistler.

Vancouver Mayor Larry Campbell and Vancouver 2010 Bid chairman and chief executive officer Jack Poole, accompanied by RCMP Corporal Terry Kopan.

The Bid Book journey to Switzerland began Monday, January 6 when Rob Boyd, former Canadian alpine team member and three-time World Cup downhill winner, skied down Whistler Mountain with a copy of the Bid Book. It was handed to John Fraser, chairman of the Bid for the 1976 Winter Games, then passed to Jack Poole at a Bid Book send-off celebration at Vancouver Convention and Exhibition Centre, and finally it was placed on a cargo plane with another 99 copies to be for shipment to Lausanne.

“The Vancouver 2010 Bid Corporation has assembled all the necessary elements to successfully host the Winter Games in 2010,” says Michael Chambers, president of the Canadian Olympic Committee. “This is a first-class bid that will create sport and community legacies now and well beyond the 2010 Games.

Canadians from coast to coast will be proud of this exceptional effort to bring the Winter Games back to Canada for the first time since the Calgary Games in 1988.”

The Vancouver 2010 Bid Book, which was officially unveiled to the public on January 14, is a 460-page, three-volume set that covers 18 themes and answer 200 questions posted by the IOC. The Bid Book covers a variety of topics including plans for sport venues, Olympic Villages, accommodation, security, medical and health services, media facilities, technology, transportation and culture.

Of interest to the YVR community is the Vancouver 2010 Bid

Corporation transportation plan. The Organizing Committee of the Games (OCOG) will fulfill the transportation requirements during the Games for athletes, technical officials, international Olympic Committee / International Paralympic Committee (IPC) Family, media/broadcaster, sponsors, entertainers, volunteers and spectators. Over the past year, three transportation work groups have been examining all aspects of transportation plans on behalf of/and in conjunction with the Vancouver 2010 Bid Corporation.

To ensure a safe, reliable and efficient transportation plan between venues and in the region, the Vancouver 2010 Bid Corporation has proposed a Public Transit/mass Transit model for the Olympic and Paralympic Games. This model has been used successfully in a number of Games, including the 1994 Commonwealth Games in Victoria, B.C., and the 2000 Sydney Summer Olympic & Paralympic Games. It will include the following components: Sea to Sky... a multi-modal solution • Bus – Vancouver & Squamish to Whistler • Marine – Vancouver & YVR (Bridgeport Dock in Richmond) to Squamish using high speed passenger-only vessels • Rail – temporary station near Callaghan to Whistler • Helicopter – Vancouver & Whistler for select Olympic Family/officials and athletes to medal ceremonies Greater Vancouver • Four Transportation Hubs for buses leaving Vancouver • Spectators and volunteers should be strongly encouraged to take public transit • Extended service for existing public transportation

• Exploring shared use of HOV lanes at Games lanes • Traffic Management Plan to be developed during the bid phase; this will include bridge management • Transit bus service to Cypress for competition days • Media Shuttles.

As part of its bid plan, the Vancouver 2010 Bid Corporation has proposed that Highway 99 be upgraded to three lanes to meet the safety and capacity demands of the 2010 Winter Games, However, any transportation improvements must also meet the long-term needs of the communities in the region. The bid is a catalyst to help move transportation improvements forward which would benefit the region, regardless of the success of the bid.

Rapid transit between downtown Vancouver and YVR is seen as enhancing the bid. However, whether

this happens is a decision of government, and currently the City of Vancouver is undertaking research to assist in this decision.

It is estimated that the number of people being transported will be

Security,

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approximately 195,000 per day in the Greater Vancouver area, and about 53,000 during peak competition days between Vancouver and Whistler / Callaghan Valley, and 42,000 around Whistler.

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security measures and have accepted the new reality,” he said.

As part of the first phase, CATSA has been working with the Airport Authority and airlines to integrate plans in Vancouver.

The upgrade of the South Terminal building to accommodate the new screening equipment and systems is due to commence in February 2003 and will involve the construction of a ‘hold room’ and passenger screening area.

The creation of CATSA was the centrepiece of the government of Canada’s response to the events of Sept 11, 2001 and part of a comprehensive $2.2 billion package (over five years) for aviation security initiatives contained in the December 2001 budget.

In the past, airlines spent $72 million on PBS whereas CATSA is currently spending $128 million. This additional funding of $56 million represents a 78 per cent increase over airlines’ expenditures in 2001.

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Vancouver Airport Services Lands Jamaican Contract he Government of Jamaica and MBJ Airports Limited have signed an agreement for the management and development of the Sangster International Airport in Montego Bay, Jamaica. The MBJ Airports consortium includes YVR Airport Services Ltd. (YVRAS), Agencias Universales S.A., Ashtrom Group Ltd., and Dragados Concesiones de Infraestructuras S.A. Under the 30-year contract the partners will, among other things, expand the terminal building as well as other related facilities in order to enhance the overall level of service provided to customers at the airport.

A stronger commercial focus will also be implemented to ensure that the airport is financially self-sustainable.

Montego Bay is the gateway for Jamaica’s thriving tourism industry,

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exotic resorts and beaches and a prime tourist destination in the Caribbean. Montego Bay is served by several major international airlines offering scheduled and chartered flights to North America, Europe and the Caribbean. Jamaica is a destination of choice and the airport has experienced continued increases in traffic in recent years.

According to Frank O’Neill, president & chief executive officer for YVRAS: “The airport has tremendous potential for continued growth because of the growing popularity of tourism, planned expansion of hotel facilities and the very attractive tourist beaches and resorts in Montego Bay and nearby Negril. Our firm has considerable experience and is well positioned to develop the international tourism market and the air-

port in order to expand the contribution these sectors make to the local economy.”

YVRAS is owned by the Vancouver International Airport Authority and CDC Capital Partners. The company has contracts for 14 airports in five countries to provide management, technical and advisory services. The subsidiary also provides business planning, air terminal planning and design, financial, retail, project manage- Aerial photo of Jamaica’s Sangster ment and training services for International Airport in Montego Bay. airports around the world.

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As part of its campaign to upgrade the Canadian passport’s security features, the passport office is in the process of replacing standard passport photos with digital images.

The gradual rollout of digitized passportswhere the photo is no longer glued to the paper but rather part of the page itself-is part of a multi-tiered strategy to prevent passport fraud, said passport office spokesperson Marina Moraitis.

As part of the digitized passport rollout-which will happen as current passports expire-the Passport Office has created a photo database with a capacity to store millions of digital photos. It exists to prevent people from applying for a number of passports using a different name, she said.

Moraitis denied initial reports that the database would be shared with the United States as a response to the call for tighter border control.

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By Monika Rola, IT Business The United States has asked visa-waiver countries, including Canada, to outfit its citizens with secure passports including an attached biometric.

There has been some suggestions that the new database would be used by the Canadian government to try and comply with this requirement.

“We have no intention to share it at this point,” Moraitis says. “This is for the passport office and it’s for our own work.”

Moraitis said the passport office has received funding to undertake a feasibility study for including facial recognition technology with the new passports. However, the department has not decided on what process of collecting the biometric data would be used, when it would become part of the passport, or if it is in fact a good way to prevent

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some initiatives that are designed to move them though YVR as quickly as possible. We are constructing a dedicated cruise ship facility to provide additional U.S. Customs and Immigration services in the International Terminal Building. This will help ease some of the line-ups we’ve experienced in the past in the Transborder area of the airport. We are also working with Air Canada and some cruise ship operators on a pilot project this year to check-in passengers on board cruise ships.

We continue to actively promote better connections to the airport, including a rapid transit line connecting downtown Vancouver, the airport and Richmond. The Airport Authority, TransLink and the provincial government have each committed to provide funding for construction of a line, and work is ongoing to prepare a proposal call for a private sector investor. Federal government funding will be required if the project is to proceed, and both the province and the Airport Authority are advancing the issue in Ottawa. A decision on whether to proceed is likely only weeks away.

Looking beyond this year, our long-term forecasts indicate that additional gates will be required to accommodate growing passenger and aircraft demand in our International Terminal. We have completed design work for a phased, nine-gate expansion and if passenger trends keep moving upwards, construction could begin in the not-too-distant future.

These are just a few of the initiatives we are undertaking here at YVR to ensure we meet growing demand and remain one of the world’s top 10 airports.

Your Airport Community Newspaper JANUARY 2003 ISSUE • VOL. 10 • NO. 3 YVR SKYTALK, the official newspaper of the Vancouver International Airport, is published monthly by Westco Marketing Ltd. for the more than 26,000 people who make up the airport community at YVR. No portion of this publication may be reproduced in whole or part without the written permission of the publisher.

Patrick Stewart Joan Stewart Ralph Eastman Aggie Stevens, John Korenic, Chris D’Silva Heather Madden-Johns, Ralph Eastman, Ali Hounsell, Kim Abrams, Erin Sills Contributing Writers: Arnold Klappe, Phil Melnychuk, Jim Jorgenson Creative / Production: James Martin Photography: Jim Jorgenson

ondé Nast Traveler has rated Vancouver’s Wedgewood Hotel as the best hotel in Canada in the November 2002 issue as part of their annual Reader’s Choice Awards.

In their ratings of the top 50 North American Hotels, Condé Nast Traveler placed the Wedgewood 12th overall, just ahead of New York City’s venerable Carlyle.

In its magazine’s “Best of the Best” awards, which amalgamate the “Top 100-Best in the World” resorts, hotels island destinations and cruise lines, the Wedgewood placed a remarkable 47th, with a mark of 91.1 points out of a possible 100.

“It is a marvelous credit to our

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Building The Gateway – The Year Ahead At YVR

Publisher: Associate Publisher: Editorial Liaison: Editorial Board:

VANCOUVER OFFICE: Suite 306 - 5400 Airport Road South Richmond, BC V7B 1B4 Tel (604) 736-6754 • Fax: (604) 736-6750 Email: jstewart@westerndriver.com Printed on Recycled Stock using vegetable based inks Please recycle this product.

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Wedgewood Rated Best in Canada, 12th in North America

PRESIDENT’S CORNER

With a new year stretched out before us, this is an opportune time to look at some of the initiatives we’re undertaking here at YVR in 2003 to ensure we continue meeting the growing aviation demand on our facilities, while offering the best in customer service.

Last year, YVR welcomed nearly 15 million passengers and we’re forecasting somewhere in the neighbourhood of 15.5 million in 2003. While that’s still short of our record 16 million passengers in 2000, the upward trend is encouraging given the many challenges still facing the aviation industry.

We have just begun an 18-month, $20 million project to upgrade the “A” Pier of our Domestic Terminal Building to provide additional gate capacity for WestJet and other domestic airlines. Once completed, “A” Pier will have the same look and feel of our recently renovated Domestic Terminal concourse, as well as three new bridges to augment the two existing bridges. The work also includes seismic upgrading, new heating, ventilation and air conditioning systems and new electrical systems.

Another ongoing project that is already benefiting both airlines and passengers is an upgrade to our baggage systems. This year is the second of a two-year, $16 million project to increase the capacity of outbound systems, and the addition of new baggage piers and system control upgrades to improve the overall performance. In the coming months, we also expect to begin a two-year, $21 million project to increase the inbound baggage capacity in the International Terminal by adding three new baggage claim carousels and a new ski carousel.

Cruise ship passengers are an important, growing part of our customer base and we are undertaking

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ASSOCIATION OF AIRPORT PUBLICATIONS P.O. Agreement #1676261

entire management and service team,” said Eleni Skalbania, the proprietor of the elegantly understated property.

“The modern traveller craves intimacy and attentive but unobtrusive service. We try our utmost to fulfill that wish every night and day of the year.”

Eleni Skalbania credits the arrival of Philip Meyer, the hotel’s Englishtrained general manager, and executive chef Frank Dodd wooed from superstar Chef Albert Roux’s kitchens. The 83-room boutique Wedgewood, decorated from Skalbania’s extensive European travels, is currently adding a spa facility and extensive upgrades to already luxurious guestrooms.

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Jetsgo Improves Vancouver Service ancouver is set to benefit from additional Jetsgo flights, with new Toronto service starting March 3.

Three new flights on Monday, Wednesday and Friday will supplement the existing schedule of one daily flight.

Jetsgo is also expanding its network to Ottawa and improving service in Timmins, Ont. This growth will be made possible with the addition of a seventh Boeing Super 80 jet

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to the airline’s fleet.

“Vancouver is one of Jetsgo’s strongest markets and these additional flights will add increased choice for Vancouver-area travellers,” said Michel Leblanc, president and CEO of Jetsgo.

A one-way Jetsgo flight from Vancouver to Toronto is available starting at $241.

A weekday Ottawa-Toronto schedule begins on March 2, with

twice-daily return flights, plus one return flight on Sundays. Connections to Vancouver are available through Toronto.

Jetsgo’s first-ever flight took off on June 12, 2002. Since that time, five new destinations and four additional planes have been added.

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steadily since our launch with the support of customers looking for an affordable air travel alternative,” said Leblanc.

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More Work for B.C.’s Cascade Aerospace ascade Aerospace Inc. has signed a two-year contract with International Lease Finance Corporation (ILFC) for leasereturn reconfiguration services on ILFC’s Boeing 737 aircraft.

To start, ILFC is placing six Boeing 737-300 aircraft at Cascade, in a program that will run until March 2003. Cascade will reconfigure the aircraft fore enduser BUZZ, KLM U.K.’s low-cost airline.

“We are very pleased to be able to serve ILFC,” said David Schellenberg, Cascade’s president.

ILFC is the international market leader in the leasing and remarketing of advanced technology commercial jet aircraft to airlines around the world. ILFC owns a portfolio valued at more than US$25 billion, consisting of more than 600 aircraft.

Cascade’s customer roster includes Aloha Airlines, Southwest Airlines, and Continental Airlines, as well as other leasing companies Boullioun Aviation, and GE Capital Aviation Services (GECAS).

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Air New Zealand Expands Code Share With Air Canada tarting this month, Air New Zealand will expand its current code-share relationship with Air Canada, to include seating on Air Canada flights from Los Angeles to Calgary and Montreal, as well as the airline’s services operating to Vancouver and Toronto from Los Angeles.

In turn, Air Canada will code share on Air New Zealand’s services between Auckland and Los Angeles

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and Sydney and Los Angeles.

Air New Zealand’s vice president The Americas, Peter Walsh said that the code expansion marks a major shift in Air New Zealand’s relationship with Air Canada.

“As members of the Star Alliance, Air New Zealand and Air Canada have had a co-operative working relationship for some years with reciprocal code-share arrangements,” said

Walsh. “This recent arrangement is the outcome of our work together to encourage more Canadians to visit New Zealand and likewise for New Zealanders to visit Canada.”

New Zealand has become an increasingly popular destination for Canadian tourists. Visitor arrivals from Canada for 12 months to July 2002 were 37,500—an increase of seven per cent on the preceding year.

Air New Zealand currently code shares on Air Canada services between Honolulu and Vancouver, Los Angeles and Vancouver, Honolulu and Toronto, and Los Angeles and Toronto; while Air Canada code shares on Air New Zealand flights between Los Angeles and Auckland (NZ1 and NZ2) and Honolulu and Auckland.

LEARN MORE ABOUT THE BID Vancouver 2010 Open House Schedule Find out about the plans, legacies and benefits for your community.

Drop in during the times listed below.

Kerrisdale Community Centre January 21, 2:30pm to 7:30pm Presentation Time: 5:00pm Room 226, 5851 W. Boulevard, Vancouver

Simon Fraser University February 11, 11:00am to 3:00pm G&H South Concourse AQ 3000 SFU Campus, Burnaby

Dunbar Community Centre January 23, 3:00pm to 7:00pm Presentation Time: 3:30pm Main Lobby, 4747 Dunbar St., Vancouver

North Vancouver Chamber of Commerce February 12, 3:00pm to 8:00pm Squamish Nation Rec Centre 100 Capilano Road, North Vancouver

Cypress Ski Area January 24, 10:00am to 2:00pm Alpine Base Area, West Vancouver

Vancouver 2010 Information Centre February 13, 3:00pm to 7:00pm Presentation Time: 5:00pm Plaza Level, 200 Burrard St., Vancouver

Kitsilano War Memorial Centre January 25, 12:30pm to 4:30pm Presentation Time: 2:00pm Room 107, 2690 Larch St., Vancouver University of British Columbia January 29, 11:00am to 3:00pm Foyer, War Memorial Gym UBC Campus, Vancouver Hastings Community Centre January 30, 5:30pm to 8:30pm Presentation Time: 6:00pm 3096 E. Hastings St., Vancouver Mount Pleasant Neighbourhood House February 4, 3:00pm to 7:00pm West Hall 800 East Broadway, Vancouver Sunset Community Centre February 5, 3:30pm to 7:30pm Presentation Time: 5:30pm Multi A Room, 404 East 51st Street, Vancouver Killarney Community Centre February 7, 3:30pm to 7:30pm Presentation Time: 5:00pm Room 203/203A, 6260 Killarney St., Vancouver

Trout Lake Community Centre February 15, 11:00am to 3:00pm Presentation Time: 1:00pm Room 210, 3350 Victoria Drive, Vancouver West End Community Centre February 18, 3:00pm to 7:00pm 870 Denman Street, Vancouver Roundhouse Community Arts & Recreation Centre February 20, 3:00pm to 7:00pm Presentation Time: 4:00pm Great Hall, 181 Roundhouse Mews, Vancouver Strathcona Community Centre Date TBA 601 Keefer St., Vancouver For more information or to see our full open house schedule and presentation times visit winter2010.com or call us toll free at 1.877.408.2010. You can also come visit us at our Vancouver or Whistler Information Centres.

Remember to vote on February 22.

IT’S OUR TIME TO SHINE

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MONEY MATTERS

By Peter Kutney, Equinox Financial Group he great Bear Market of 20002002 has left many investors wondering if they will ever be able to retire. Workers in their 30s and 40s really need have no concerns—as long as they don’t panic and sell at the cycle’s bottom. In the investment

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Retirement Planning – Will You Have Enough?

world time heals all, and a 40-yearold individual still has about 20 years left to fund retirement, with several more market corrections before receiving the final paycheque. Over time, companies expand, innovate, grow and increase their profits, and

Symposium

stock prices inevitably follow—check any 20-, 30-, or 100-year graph of the Dow or the TSE to see what I mean.

The market invariably rebounds; it did after WWII, Viet Nam, and even Watergate.

Those most acutely concerned

Tradeshow

Opportunities For The Future The annual Symposium and Trade Show is an opportunity for the Aviation Community to keep current with advances and changes in aviation technologies and regulatory requirements by receiving professional training from Regulators and Industry while meeting exhibitors displaying the newest products and services.

Everyone Welcome. Open House - January 29, 2003 4:30 pm Pre-register for Professional Workshops - January 30-31, 2003

Symposium 2003 Main Presentations Thursday, January 30

Friday, January 31

8:30 am:

8:30 am:

Keynote Speaker-Dave Menzies, Chief Pilot Hawkair Aviation 9:00 am: What’s New in Structures-John Pinz 10:15 am: Coffee break 10:45 am: Why the Concorde CrashedMaintenance Aspects-David Malaher 12:00 pm: Lunch break 1:00 pm: Dynamic Balancing-Dana Ladd, Hope Aero Propeller 2:00 pm: Helicopters-Richard Wellman, Sikorsky Aircraft Co. 3:00 pm: Coffee break 3:30-4:30 pm: Subject: Aging Wiring-Jane Beck, Boeing 6:00 p.m.

PAMEA Banquet-Steve Ogle, Chief Maintenance Officer, WestJet Airlines

Safety Management & Update-Gerry Binnema, Transport Canada 9:30 am: Aircraft Crash Investigation-George Heath, R.J. Waldron & Co. Ltd. 10:30 am: Coffee break 11:00 am: Turbomecca Arriel 1 Engine-Joe Braz, Acro Aerospace 12:00 pm: Lunch break 1:00 pm: Business & Legal Issues for the AMEPeter Messner, Q.C. 2:00 pm: Helicopters-Peter Swinnard, Eurocopter Canada 3:00 pm: Coffee break 3:30-5:15 pm: Transport Canada / FAA Panel-John Nehera, TC Aircraft Certification; Mike Whissell, TC M&M; Dick Murray, TC M&M; Mike Pasion, FAA 5:15 pm: PAMEA AGM

Plus vendor presentations held each day from 1:00-3:00 pm.

Topics will include: Calibration • Float Carburetors Service Difficulty Reports (SDRs) • RSA Fuel Injection Systems • Turbo Chargers • plus others TBA.

Best Western Richmond Inn, Convention Centre 7551 Westminster Hwy., Richmond, B.C. Brought to you by: Pacific Aircraft Maintenance Engineers Association (604) 279-9579 or 1-866-37-PAMEA . Fax (604) 279-9566 www.pamea.com

about retirement include those in their 50s and 60s who were heavily invested in equities, and have little or no formal company pension plan. Some investors have seen their retirement nest egg drop by 30 per cent or more over the last two years. Should they be worried?

Take the case of Tom and Patricia Jackson (not their real names) of Surrey, B.C. Tom is a corporate pilot based in Richmond, and earns $85,000/year. His wife works locally as a sales manager and earns $35,000.

Both are 51, and have seen the value of their RSPs (80 per cent equities) drop from $395,000 two years ago to $330,000 today. Both contribute the maximum to their RSP. Neither is a member of a company pension plan, so their RSPs are their key asset.

Tom had planned to retire at age 55 on 70 per cent of his combined family income, but says: “I had a retirement plan done four years ago and I was told that retirement at age 55 was not really feasible. I had to lower my income expectation, or plan on working until age 60. Now with my RSP shrinking, I wonder if I will be able to leave by age 65.”

Tom is also wondering if he should sell all his equity funds, and move to bonds and money market funds.

First, it is important to remember that the odds are that either Tom or Susan will live to the age of 85 or perhaps 90—so there is plenty of time for them to benefit from a market rebound. There is no need to sell their equity funds now, at distressed prices.

The key question is: How much do they really need for retirement? Many financial planners use a rule of thumb that says “you will need 70 per cent of pre-retirement income during retirement.” Others call that a “myth” generated by a financial planning industry keen to have you save and invest every last penny.

Estimating family needs Here is an approach that I would use in estimating the needs for the Jacksons. They should take their combined family income of $120,000/year, and deduct the things

YVR Employee Receives Jubilee Medal Ralph Janisse, a wildlife control officer with the Airport Authority, was awarded the Queen's Golden Jubilee Medal in recognition of his 30 years of voluntary service. The medal was presented by Lt. Gov. Iona Campagnolo.

that will go away during retirement.

The mortgage will be paid off by then, so they’ll subtract $1,300/month. They will no longer need to save in RSPs, so deduct $17,500/year. Now deduct workrelated expenses, such as commuting, and CPP/EI-take off another $8,500/year. Their children will be grown up (and have a good RESP), so remove another $6,000 per year.

Finally, Tom and Susan hope to travel more during retirement, so they’ll add $5,000 per year.

The net effect is that in order to maintain roughly the same standard of living in retirement, they will need $77,400/year. This is 64 per cent of their current income—factoring in the lower tax rates that Tom will (hopefully) pay on his retirement income, the figure drops to about 60 per cent or slightly less.

That figure is put into our retirement planning software, using a seven per cent rate of return on investments, 2.5 per cent inflation, CPP, OAS, etc.

This determines that the Jacksons will be fine to retire in the area of age 5960. Keep in mind, also, that they will not necessarily need $77,000 per year; they could retire earlier and spend less. They will certainly spend less than this in their later years, i.e., in their 70s and 80s when their lifestyle will slow down along with their spending.

So my advice to Tom and Susan is to ignore the stock market, stick to their plan, and relax. They will be fine.

Everyone’s circumstances differ, but you can use the model above to get a more accurate picture of what you will need during retirement. You can see that the 70 per cent pre-retirement income rule of thumb is a bit high for this couple, and at 60 per cent they will be comfortable.

There is no law that says you have to have 60- or 70 per cent pre-retirement income, either. Why not consider a more modest lifestyle?

Peter Kutney is a Financial Planner with Equinox Financial Group in Burnaby. He can be reached at 604438-1603 or at kutney@aebc.com.

J A N U A R Y

YVR PEOPLE

by Jim Jorgenson

New VP for Jamaican Airport Craig Richmond (right) British Columbia Aviation Council (BCAC) chairman presents a special award to board member Curtis Grad, airport manager of Abbotsford Airport, who will soon be departing to Jamaica in his new role as vice president airport operations for Jamaica’s Sangster International Airport in Montego Bay. The presentation took place at last month’s BCAC annual Christmas dinner.

YVR Dentist Receives Award

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Dr. Art Ross of the Vancouver Airport Dental Centre, located in the Domestic Terminal, Level 1, will receive a Distinguished Service Award from the College of Dental Surgeons of B.C. in early March. The award is in recognition of an outstanding contribution to the College over the years, and exceptional contributions to the dental profession.

LY ES T N O UT POR IN R M AI 8 HE T O T

Pool Tournament to Benefit Canuck Place Damon Wong (right) Cara’s newly appointed general manager airport restaurants and Leroy Sandy line up their cue sticks to get the new Stanley’s Happy Landing Lounge Pool tournament pool tournament underway.

Tournament entry fees will be donated to the Canuck Place Foundation. Qualifying rounds begin the week of February 18, with games being held on Tuesday and Thursday nights.

Visit Stanley’s Happy Landing Lounge in the Domestic Terminal, Arrivals Level, to register for the tournament.

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Ski Vacations Becoming More Popular TRAVEL

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eisure time has become a serious investment in rejuvenation of the body, mind and soul, and the increase in the choice of ski destinations for a vacation appears to match this trend.

Nestled in the spectacular Coast Mountains of British Columbia, just 120 kilometres north of Vancouver and 56 kilometres north of Squamish lies Whistler--a year-round destination consistently rated the Number One Ski Resort in North America.

Setting high resort standards is nothing new to award-winning Whistler. Whistler/Blackcomb has been given top marks in North America in several categories, including terrain, vertical drop, high-speed lifts, depth of snow, slope-side amenities and just plain fun.

The 2010 Olympic Bid city of Whistler is number one with skiers and snowboarders for a host of reasons: • The largest ski area on the continent, with 2,862 hectares of skiable terrain, more than 200 marked trails and 12 massive alpine bowls, including three glaciers.

• The two greatest vertical rise ski mountains in North America, with Blackcomb rising one vertical mile to an elevation of 2,284 metres and Whistler rising 1,530 metres to an elevation of 2,182 metres.

• Five separate mountain bases, all within five minutes of each other

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and all equipped with high-speed lifts, ensure fast access to the alpine and virtually eliminate lift lineups.

• The most extensive high-speed lift system in the world, with 15 express lifts (three gondolas and 12 quad chairs) in a total system of 33 lifts.

• Ski-in, ski-out convenience to lodging in Whistler Village, Upper Village and Whistler Creekside.

• A winter season running from November through May, with summer skiing/snowboarding continuing until August.

• A variety of additional winter activities from cross-country skiing, ice skating and snowshoeing, to paragliding, snowmobiling, flight seeing and sleigh rides.

But Whistler/Blackcomb is just the tip of the iceberg. The Bulkley Valley has great winters—including lots of dry, fluffy snow, providing superb skiing.

Ski Smithers is a great family ski resort just 20 minutes form downtown Vancouver and under two hours from Vancouver International Airport.

Three lifts, including a triple chair take you to the top of Hudson Bay Mountain. Enjoy ski runs from novice to expert, including some challenging tree skiing. Ski Smithers has a full service day lodge, with restaurant and lounge; along with a well outfitted rental and pro-shop. If you’re new to skiing or boarding, you can link up with a friendly and qualified instructor at the ski school.

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If you prefer to leave the lifts behind and see the backcountry, you will love the Bulkley Valley. Smithers is surrounded by mountains and hundreds of miles of untracked snow.

There is generally enough snow to ski from November through June and enough terrain to suit the most demanding skier on alpine touring or telemark gear. The town has good ski shops that can advise on where to ski and assist with gear needs. Back country ski guides are also available. www.tourismsmithers.com

Don’t Put Camera Film In Checked Baggage s part of the responsibility for passenger and baggage screening instigated Dec. 31, 2002, the Canadian Air Transport Security Authority (CATSA) has deployed, and will continue to deploy, new screening equipment for checked baggage at pre-board screening (PBS) areas in Canadian airports. This new equipment will damage camera film, so passengers are advised to pack their film in carry-on baggage.

The equipment used at PBS areas will not damage film under 800 ISO/ASA. While most amateur photographers use film in the 100-400 ISO/ASA range, multiple exposures (more than five times) of the same roll of film to PBS X-ray inspection may cause damage. If passengers are concerned about film in their carry-on baggage, they may request a hand-search at the PBS area.

Digital disks will not be affected by the new equipment.

“The security of passengers is our top priority,” said Jacques Duchesneau, president and CEO of CATSA. “Canadians recognize the importance of enhanced air security measures and the requirement to make certain modifications. We are very appreciative of the support, understanding and cooperation of passengers, airlines and airports as we work together to enhance air security in Canada.”

This new screening equipment is consistent with the types of equipment being deployed across the United States and around the world.

Passengers may call 1-888-2942202 or consult the CATSA Web site at www.catsa-acsta.gc.ca for more information.

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