2004-12_skytalk

Holiday Season Takes Off At YVR

Best Wishes and a Happy and Prosperous New Year to All.

With Annual Christmas Tree Contest And Runway Sale

s the weather turns cold, the holiday season heats up at YVR. The festivities are already under way, with the kick-off last month of the 6th Annual Children’s Christmas Tree Decorating Contest. Thirty elementary school classes, (Grades 1-4) from the across the Lower Mainland, came to YVR to decorate Christmas trees with hand-made ornaments. Each tree has a different corporate sponsor and all will be on display on the columns lining the International Terminal until the end of December.

A Make a donation to the CKNW Orphans’ Fund and vote for your favourite Christmas tree on display in the International Terminal building.

SEE HOLIDAY SEASON AT YVR PAGE 2

F R E E DECEMBER 2004 • Your Airport Community Newspaper – Vancouver International Airport

Power Napping Comes To YVR – New Service A World-Wide ‘First’ ancouver International Airport (YVR) has become the first airport facility to offer MetroNaps™ Pods—semi-private napping chairs that allow passengers to take advantage of downtime and rejuvenate themselves by taking a power nap at the airport.

“We are excited to be the first airport in the world to offer passengers MetroNaps,” said Christopher Gilliland, YVR manager retail sales and service programs. “At YVR we are committed to offering travellers leading-edge services and retail programs.

“This innovative new service is one of YVR’s numerous airport ‘firsts’ including North America’s first airport 7-Eleven and first Plaza Premium pay-per-use luxury lounge facilities.”

Located after security in international departures, the pods offer a quick recharge for international departing passengers. For $15 for the first 20 minutes, nappers can drift off while listening to tranquil, relaxationinducing music. A gentle vibration wakes the napper, who is then provided with a mint and fresh towelette by an attendant. Nappers can add more time in a pod for $5 for each additional 10 minutes.

“We are very pleased to be open-

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ing our first airport location at Vancouver International Airport,” said Arshad Chowdhury, MetroNaps co-founder. “YVR is modern and innovative, and therefore the ideal place to commence our airport installations. We look forward to providing our MetroNaps service at this important gateway between North America and Asia.”

The MetroNaps Pod has a spherical upper body shape that creates a semi-private acoustical and visual environment, offering protective priSEE POWER NAP, PAGE 2

RAV Line Given

‘Green’ Light YVR Applauds TransLink Board’s Decision Founded in 2003, and researched and tested at Carnegie Mellon University, the MetroNaps™ Pod has been designed to help maximize the rejuvenating effects of a brief rest.

Alaska Expands Service From Vancouver laska Airlines will begin new non-stop service between Vancouver and San Diego on February 13, 2005. Additionally, Alaska will bolster its existing service between Vancouver and Las Vegas and Palm Springs.

The flights will feature both coach and first-class seating.

“This is a natural expansion of our West Coast network and it reflects our commitment to Vancouver as we add strategic routes and new cities to meet customer demand,” said Greg Saretsky, Alaska’s executive vice president of marketing and planning.

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SEE ALASKA AIRLINES, CONTINUED PAGE 2

ancouver International Airport Authority welcomed the decision by the TransLink Board to proceed with the Richmond-Airport-Vancouver Rapid Transit Line (RAV Line).

The Airport Authority is a funding partner with TransLink, and the B.C. and federal governments in the RAV project, and has committed up to $300 million to construct the airport portion of the line connecting Richmond, Vancouver International Airport (YVR) and Vancouver.

Airport Authority president and CEO Larry Berg said the decision is the result of support from the community, the project partners, all three levels of Government and the cities of Vancouver and Richmond.

“Thanks to the vision and guidance of our Board of Directors, the Airport Authority made a commitment to this project in its early stages,” said Berg. “They, along with the people and businesses that make up YVR, have understood the importance of this project to the airport, the region and British Columbia. It is on their behalf that

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SEE RAV LINE, CONTINUED ON PAGE 2

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RAV Line,

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Power Nap, FROM PAGE 1

FROM PAGE 1

vacy without overly enclosing. The pod inclines forward to allow for easy entry, and then reclines to allow for optimal positioning. The slight elevation of the feet and knees promotes blood circulation and reduces pressure on the lower back.

“The MetroNaps Pod has been designed to go just about anywhere, and an airport is an obvious location,” said Christopher Lindholst, MetroNaps co-founder. “Travelling can certainly be tiring, and people

Alaska Airlines, The Richmond-Airport-Vancouver Rapid Transit Line (RAV Line) is slated to open in 2009, linking central Richmond, YVR via the Cambie corridor to central Broadway, the downtown business district and Waterfront Station.

I congratulate the TransLink Board on their decision.”

On a typical weekday, the Richmond-Airport-Vancouver corridor currently handles about 500,000 people. A large contributor to the traffic along the corridor is airport employees and passengers.

YVR’s nearly 400 businesses and organizations employ approximately 26,000 people and last year served 14.3 million passengers. By 2021, it is expected that the airport community will employ 40,000 people and passenger numbers will increase to 25 million.

often have significant amounts of time before a flight or during a layover. MetroNaps provides a great way for the weary traveller to get some rest before, or after their flight, so they can feel refreshed upon arrival at their destination.”

The MetroNaps Pods at YVR–three in total–will have an attendant on duty to look after personal belongings that are placed under the pods as nappers enjoy their rest.

FROM PAGE 1

Saretsky noted that Alaska has grown its presence in British Columbia to 12 daily flights from Vancouver, with additional service from Kamloops, Kelowna and Victoria via sister carrier Horizon Air.

By February 2005, Alaska and Horizon Air together will offer more than twice the number of daily transborder flights between British Columbia and the U.S. than any other airline.

Holiday Season At YVR,

FROM PAGE 1

Airport visitors are invited to vote for their favourite tree by submitting a ballot, available under each tree, and donation of their choice to either of the customer service counters.

Prizes will be awarded to the top three schools voted for, and all monies raised through donations and sponsorship fees will go to the CKNW Orphans’ Fund.

Great holiday savings begin on December 24 with YVR merchants’ runway sale. Shoppers are encouraged to fill their suitcases with specially priced gifts and seasonal merchandise available until January 4, 2005.

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Tips For Surviving Holiday Travel o alleviate the stress that accompanies holiday travel, keep in mind the following tips: Arrive early Travellers should leave plenty of time to check-in and clear security.

Arrive at the airport at least one hour prior to departing on a domestic flight, and two to two-and-a-half hours prior to departing on a U.S.bound, or other international flight.

Prior to arriving at the airport, contact your airline to check the status of your flight departure time.

Think safety and security It is recommended that passengers limit their carry-on luggage to one piece.

The following items are prohibited as carry-on and will be confiscated: • All knives • Any sharp and/or pointed objects • Replica or toy weapons • Corkscrews • Fireworks • Sporting equipment, such as golf clubs, hockey sticks, ski poles, squash and tennis racquets and ice skates.

Don’t wrap presents Do not pack any wrapped presents or packages in your carry-on bags as

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PRESIDENT’S CORNER

By LARRY BERG, President and Chief Executive Officer

Forum ’44 Charts Course For Future Dialogue they will be unwrapped and inspected, adding time to the pre-board screening process.

If you are unsure of what you can or cannot bring as carry-on luggage, contact your airline or visit the Canadian Air Transport Security Authority Web site (www.catsa.gc.ca) for further information.

Bring proper documentation Always travel with photo identification. A passport is required for international flights and is recommended for U.S.-bound flights. Make sure your travel documents are current; many countries require a passport that is valid for six months after you return home. It is recommended that you photocopy important documents and keep the copies separate from the originals, in case the latter are lost or stolen.

Think ahead when travelling with children When flying with small children, try to book the bulkhead seats, which are the first row in economy class.

Not only do these offer more legroom, but many airlines provide a bassinet that can be attached to the wall in front of the seats.

ast month’s Forum ’44 at YVR was a meeting of diverse voices with one common goal: envision the world 40 years from today, identify the implications for YVR and discuss how the airport can contribute to an economically, environmentally and socially sustainable future for the people of B.C. and Canada.

Among the distinguished speakers at the Forum was Premier Gordon Campbell, who talked about the need to ensure YVR’s position as the gateway to emerging markets and economies, bringing new opportunities and activities to B.C. Representing Ottawa was David Emerson, Minister of Industry, who outlined what he considers to be YVR’s key issues for the future: operations and development, border risks and aircraft technologies.

David Baxter from the Urban Futures Institute, Dr. Michael Goldberg of the University of B.C., and environmental and social justice advocate Severn CullisSuzuki discussed the business, social and environmental options open to Greater Vancouver, British Columbia and Canada in the decades to come. Dr. David Pang, President and CEO of Airport Authority Hong Kong, and Andrew Zollers of Boeing Commercial Airplanes painted a picture of the airports and aircraft of the future. Well-known pollster and social researcher Dr. Angus Reid provided insight into the consumer of the future, while Michelle McKenzie of the Canadian Tourism Commission, David Marshall of the Fraser Basin Council and Whistler Mayor Hugh

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O’Reilly gave us their unique vision of the future of travel and tourism.

At the conclusion of their presentations, I presented to delegates a number of potential future development options for YVR. These included an additional runway, various configurations for future terminal expansions, ground transportation enhancements— such as additional bridges and roads, a dedicated access route or transportation demand management—and site options for a larger, busier YVR able to support the vital travel, trade and tourism of tomorrow.

So why did the Airport Authority host this two-day conference at YVR? Forum ’44 was the kick-off of the community consultation process for our 2007-2027 Master Plan, which looks at the allocation of airport resources—most importantly land—and how YVR can best be developed to contribute to the economic, social and environmental sustainability of our region and province over the next 20 years.

Looking out 40 years helped us to understand some of the questions we need to ask in planning for the next 20 years, so the actions we take today don’t preclude our future sustainability.

The thoughtful and fascinating insight and diversity of voices at Forum ’44 will be invaluable as we seek community and stakeholder input on the trends and issues that matter to British Columbians—providing for sound airport planning today and for the future.

Your Airport Community Newspaper DECEMBER 2004 ISSUE • VOL. 12 • 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.

Publisher:

Patrick Stewart

RICHMOND OFFICE:

Associate Publisher:

Joan Stewart

Suite 306 - 5400 Airport Road South

Editorial Liaison:

Jody Holgate

Contributing Writers:

Arnold Klappe, Phil Melnychuk, Jim Jorgenson, Ralph Eastman,

Tel: 604-736-6754 • Fax: 604-736-6750

ASSOCIATION OF AIRPORT PUBLICATIONS

Artie Chumpol

Email: jstewart@westerndriver.com

P.O. Agreement #1676261

Creative / Production:

James Martin

Photography:

Jim Jorgenson

Printed on Recycled Stock using vegetable based inks Please recycle this product.

Richmond, BC V7B 1B4

www.yvr.ca/authority/news/skytalk.asp

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YVR Runners Take Flight In The Big Apple scenic 42-kilometre race across New York—from Staten Island to Central Park, over bridges and through five boroughs—the New

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York City Marathon is a dream for many, a reality for few. But on November 7, 2004, the marathon became a reality for two Vancouver

Airport Authority employees.

Drew Pankrath and Melisa Luongo, two employees with the Operations Department at YVR, have been running for years but have never faced a competition as prestigious or as rigorous as the New York City Marathon. Dedicated to running the marathon, the two trained for four months, logging 30 to 60 kilometres per week in addition to working full time.

“I would put in a 12-hour day at work and then go home and run 10 kilometres,” said Melisa. “And on my days off I would do the long runs.”

At 6 a.m. on November 7, Melisa and Drew arrived at the race to register and await the 10:10 a.m. start time. The forecast for the day was 20 degrees Celsius, unseasonably warm for November. “It was hard to know

Vancouver Airport Authority employees Drew Pankrath and Melisa Luongo finished in the top third of runners at this year’s New York City Marathon. what to wear,” said Melisa. “We had no idea it was going to be that warm.”

Drew and Melisa did not run together but had friends strategically

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placed along the route to provide inspiration. Along with their friends, the streets were lined with cheering spectators. “The support was more than I could have imagined,” said Drew. “I was getting cheers and highfives from so many people along the way.”

Volunteers and spectators gathered around the final three kilometers leading to Central Park and the finish line.

The emotion of finishing the race was marked by tears of joy and pain. “I was just so happy to cross that finish line,” said Drew. “In other races it was anti-climatic but this one was very different.”

Unlike other marathons they had completed, it was the experience and not the finish times that were important to these two competitors. “We finished in the top third of runners and are so proud of that fact,” said Drew.

The experience did not end at finish line. “We were treated like celebrities—even the subway was free for the runners.” Marathon participants were conspicuous as they struggled down the stairs into the subway stations, their legs aching from the hours of running.

It’s not always easy to find inspiration at the work place, the kind that makes you take a second look at your life and wonder if you have the commitment necessary to achieve your goals. But in the case of Drew and Melisa, the inspiration they found at YVR drove them to follow their dreams through the streets and boroughs of New York.

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Airport Authority Practises Emergency Evacuation With ‘Operation Egress’ L ast month, the Airport Authority conducted ‘Operation Egress,’ a multi-agency emergency evacuation exercise in the Domestic Terminal Building. The exercise gave emergency response personnel and airport staff an opportunity to apply their training to a live scenario and YVR’s comprehensive test Emergency Management Plan.

During the exercise, emergency personnel responded to a simulated fire on Level 4 of the Domestic Terminal. Passengers and visitors were advised of the exercise and knew to expect fire alarms, emergency personnel with equipment entering and exiting the building, as well as actors playing victims of smoke inhalation.

Emergency simulation drills, including live scenario training and table-top emergency exercises, are an important part of the Airport Authority’s comprehensive Emergency Management Plan. The Emergency Management Plan has one goal: to protect the health and safety of airport customers, passengers and employees by ensuring emergency preparedness remains integral to the operating philosophy at YVR.

Ralph Eastman, manager, communications, Vancouver International Airport Authority, has his ‘wounds’ prepared for the ‘Operation Egress’ emergency preparedness exercise.

‘Victims’ of smoke inhalation and third-degree burns – (l. to r.) Pat Castle, Meg Comiskey, Ralph Eastman, Sarah Hughes, Elaine Soo, Margarida Ferreira.

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YVR WELCOMES YOUR LETTERS TO THE EDITOR All letters must include your name, address and phone number for confirmation.

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Airport Job Training Check-In/Customer Service Agents At YVR FREE INFORMATION SESSIONS 17 Jan. 2005, 7:00 p.m. Burnaby Central High School 18 Jan. 2005, 7:00 p.m. McNeill Sec. School, Richmond CLASS START DATES 31 Jan. 2005, Burnaby Central High School 01 Feb. 2005, McNeill Sec. School, Richmond

information call: Burnaby Cont. Ed. At 604-664-8888 Richmond Cont. Ed. At 604-668-6123

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Comparison Of 2004 Versus 2003 hird-quarter passenger and cargo numbers at YVR show passenger traffic up 8.7 per cent versus the same quarter last year. All sectors--domestic, transborder, and international—reflect an upward trend, despite a dip in the transborder sector due to weaker cruise ship numbers.

Year-to-date shows a 10.5 per cent increase, with YVR anticipating close to 15.6 million for the year.

Cargo is up 11.6 per cent year-to-date, showing 176,718 tonnes versus 158,384 for the nine months ending September 2004.

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• One night stay in a Fairmont Room • A Spa treatment at the Absolute Spa or a Health Club membership • A $50 or $100 gift certifcate for dining in Globe@YVR or our Jetside Lounge Avoid the Christmas rush and purchase your certificates today. Enquire with our Front Desk

YTD SEP 2004

YTD SEP 2003

% CHANGE

Domestic

6,054,884

5,480,325

+10.5%

Transborder

3,137,564

3,048,493

+2.9%

Asia Pacific

1,840,787

1,465,753

+25.6%

Europe

883,415

789,170

+11.9%

Miscellaneous Int’l

225,337

201,297

+11.9%

12,141,987

10,985,038

+10.5%

Total

ome and enjoy a grand evening with the Quality Inn Airport Vancouver Grand New Year’s Eve Package. This package includes a bottle of champagne upon check-in, overnight accommodations, and hotel parking. Also included is an exquisite New Year’s Eve dinner at our DA’1 Restaurant serving a mixture of American and Asian dishes.

After dinner join the “Celebration” dance event at our Hippo’s Sports Grill (ID’s will be checked at door) with DJ playing music from the ‘70s, ‘80s, ‘90s & karaoke. There will be dancing and a full bar serving cocktails until 2:00am (cocktails not included). At midnight, enjoy a Champagne toast with New Year’s Party Favors.

The next morning enjoy a late checkout of up to 2:00pm and a New Year’s Day Breakfast, in our DA’1 Restaurant.

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YVR Third Quarter Passenger And Cargo Numbers

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YVRAS To Operate Four Airports In Honduras V ancouver Airport Services (YVRAS), through an operating subsidiary, will assume the role of airport operator and the responsibility for the day-to-day management and operation of airports in Tegucigalpa, San Pedro Sula, La Ceiba and Roatan in Honduras.

These airports handle approximately two million passengers annually.

“This transaction adds critical mass to our current network of airports in the region and confirms our commitment to airport development in Latin America and the Caribbean basin,” said Frank O’Neill, president and chief executive officer for YVRAS. “Honduras offers exceptional attractions for tourists, ranging from Mayan ruins, to world-class diving, to vast ecoreserves. Our company will add significant value to the concession

ports in order to enhance by introducthe overall level of sering internavice provided to custional best tomers. practices, Long-term financing assisting for the US$60-million with the project is currently under management consideration by the of the conInterAmerican struction proDevelopment Bank. gram and YVRAS is owned by implementVancouver International ing commerAirport Authority and cial initiaCDC Capital Partners. tives at the The company, which celairports.” ebrates its 10th anniverUnder the sary this year, manages 19 16 years airports in six countries, remaining on and specializes in busithe concesness and retail planning, sion contract, Frank O’Neill, president and chief air terminal planning and an internaexecutive officer for YVRAS. design, project managetional conment and training services sortium is expanding and refurbishing the air- for airports around the world.

CBSA Seizes 11.5 Kilograms Of Heroin ast month, officers of the Canada Border Services Agency (CBSA) at Vancouver International Airport (YVR) seized 11.5 kilograms of heroin hidden in picture frames and two false-sided suitcases.

“This seizure was another excellent example of the outstanding work done by our officers,” said Marilyn Murray, CBSA’s chief of passenger operations at YVR. “The interception of illegal drugs at our borders not only plays a big part in making our communities safer, but also acts as a deterrent to others.”

On November 15, officers of the CBSA conducted a routine examination of luggage belonging to a

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Canadian resident returning from a trip to India. During the examination, officers used equipment that detects contraband and obtained a positive reading from wooden-framed wedding pictures included in the traveller’s luggage. Officers then conducted an X-ray examination, which revealed inconsistencies in both the frames and the traveller’s suitcases.

On further examination, the officers discovered plastic bags filled with a substance that was later determined to be heroin.

Since January 1, 2004, officers of the CBSA in B.C. have made 2,315 drug seizures, consisting of more than 2.5 tonnes of illegal substances.

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CIFFA Forwarder Choice Awards Please call for our terrific January - March resort and cruise deals.

Sun Destination Resorts are selling out fast. (l. to r.) Craig McKay, CIFFA western president and vice president Adanac International Forwarders Inc., with Visa Taumoli, Kari Arthur and Reid Cavars of Air Canada, award winner for best freight-forwarding air carrier in North America.

(l. to r.) Jeffrey Laljee, Ulla Hauser and Dick Murao of KLM, with presenter Garry Mooney, vice president Gillship Navigation. KLM won best air carrier in the Europe trade lane category.

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(l. to r.) Presenter Martin Regan of Perishable Int’l., with Bruce Spencer and George Ysang of Cathay Airlines, winner for best overall air carrier and best trade lane carrier for Australia and the Far East.

Mike Teixeira (left) of Ecu Line Canada Inc. presents Lufthansa’s Howard Eidinger with the award for the best air carrier in the Mediterranean/Middle East trade lane category. ast month, the western region of the Canadian International Freight Forwarders Association (CIFFA) hosted its annual Forwarder Choice Awards.

CIFFA national president, John O’Brien, was on hand to present awards to the air, ocean and truck carriers voted to be the best at serving the freight-forwarder community in Western Canada.

Air Carrier of the Year was awarded to Cathay Pacific, which also took home the award for best carrier in both the Australia and Far East trade lane routes.

Air Canada was named best carrier in the North America trade lane category. KLM won the honours for Europe, and Lufthansa for the Mediterranean/Middle East trade lane categories.

For more information on CIFFA western region, contact Craig McKay, western division president at cmckay@wlrbc.com.

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The Flying Beaver Bar & Grill

Your home for a good time near the airport.

We specialize in great Christmas Parties or work parties all year long. We do small, medium and large parties as well as book out the entire premises.

Call Scott @ 604-273-0278 for party booking and information.

4760 Inglis Drive, Airport South Richmond BC

Evex Luggage Unpacks In Richmond ost travellers are hopeful that their luggage is waiting for them at their destination, but how many have concerns that it will be in one piece when it flies down the luggage chute?

Many flyers have witnessed the embarrassing sight of ripped or burst luggage on the revolving carousel, displaying personal contents to all those in the arrivals gallery. Some have experienced a ‘wonky’ luggage wheel, a broken handle or a busted flap zipper at some time over the working life of their well-travelled luggage.

If you talk to Jack Kanji, a veteran of more than 30 years in the luggage business and owner of Evex Luggage, he will tell you to buy brand-name quality luggage for best service and life expectancy.

“We have been servicing all the major airlines for more than 30 years,” said Kanji. “We have been repairing and supplying luggage,

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Jack Kanji, owner Evex Luggage, in the new Richmond store. including crew baggage to airline personnel, so we know the best brands and what works best.”

In addition to owning three Toronto stores, Kanji opened an Evex Luggage Richmond store at Alderbridge Way and No. 3 Road last month. The newest store in the Evex chain is filled with a variety of major, name-brand travel bags and accessories, some with special opening-day price tags offering 60 per cent off.

Aside from luggage sales, the company’s luggage repair services at YVR includes picking up damaged luggage every Monday morning from airlines and, in some cases, returning repaired items on the same day. Kanji reports that broken handles, followed by wheels and rips, are the top three common luggage repairs needed.

For more information, contact Evex Luggage Centres at (604) 2330613 or 1-877-233 0613.

Quality Inn Pledges $10 To Food Bank For Each Room Booked In December n keeping with the spirit of the season, the Quality Inn Airport Hotel will make a $10 donation to the Vancouver Food Bank for every room booked at its hotel this month.

“The holiday season can be a very tough time for hundreds of people in our city,” said Kirk Pankey, director of sales, Quality Inn Airport. “We are pleased to launch this fundraiser so that we can do our part to help our community.”

The generous donation is applicable on all room rates, except employee discount rates, and will run between December 1 and 30.

The Quality Inn Airport is part of Choice Hotels Canada Inc., and is located three kilometres from Vancouver International Airport. The full-service hotel has 100 guest rooms with a variety of amenities. In addition, non-smoking Business Class rooms include complimentary services such as hot breakfast, high-speed wireless Internet access, local phone calls, faxing and

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photocopying.

Aeroplan members receive 250 Aeroplan Miles per eligible hotel stay.

Reservations for accommodations can be made by calling 1-800-4CHOICE (1-800-424-6423), by visiting www.choicehotels.ca or by calling the hotel directly at 604-321-6611.

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Shopping Online For Aviation-Themed Gifts he Internet makes it easy to find the perfect gifts for airplane enthusiasts. Not only are prices generally quite competitive, but the selection of goods and retailers is enormous.

The only caveat: in order to ensure the purchased goods arrive in time for Christmas gift-giving, you’ll need to act quickly.

To find a truly unique aviation gift, such as an old aviation collectible, postcard, or diecast model, the world’s biggest selection is at eBay— from the eBay home page, click on “Collectibles,” then “Transportation,” then “Aviation.” You will arrive at a virtual Aladdin’s Cave, loaded to the gunnels with every aviation-related item and collectible imaginable, including an equal mix of new and used goods. The prospect of finding a unique “collectible” is the obvious draw, however, the more unique an item, the higher the price.

Items listed on eBay are typically seven- to 10-day auctions, however, a fair number of items are available for “Buy Now,” which means a purchaser must agree to the posted price and complete the transaction prior to the listing’s end date.

In addition to eBay, most retail outlets also provide online shopping opportunities. For example, Aviation World, Canada’s largest retailer of aviation books, DVDs, videos, models and pilot supplies, also has an extensive online store at aviationworld.ca, where shoppers can order just about anything from the company’s extensive inventory.

The Aviation World store is also conveniently located close to Vancouver International Airport, and the staff is friendly and happy to help you choose the perfect gift.

For distinct Canadiana aviation books, visit canavbooks.com, run by Larry Milberry, Canada’s leading aviation author, historian and book publisher. His website is stocked with his own superb titles, as well as other Canadian aviation writers’ works, all at very reasonable prices.

DVDs make superb gifts as they are affordable, easy to ship, and provide years of enjoyment. For cockpit DVDs, the best quality and selection come from Michel Moskal at Just Planes Videos in Boston. His titles can be ordered at transaer.com.

Airlinersonline.com in Miami (the publishers of Airliners Magazine) and airwaysmag.com in Idaho (publishers of Airways Magazine), both operate well-stocked websites with an extensive selection of books, calendars, DVDs, models and other excellent gifts.

For British-themed commercial

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aviation DVDs, visit U.K.-based avionvideo.com.

So, dust off the keyboard, fire up the circuits, launch your favourite browser and here’s to happy online shopping.

Henry Tenby has filmed commercial aviation operations since the early 1990s. His Canadian aviation-themed DVDs can be accessed by visiting www.henrytenby.com.

The Atlas Air B747-200F & B747-400F twohour DVD/Video takes you to some of the largest airports in the U.S., and the airline’s crews give a complete description of the differences between Boeing 747-200 and -400 cockpits

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Preparing Your Portfolio For Higher Interest Rates S hort of advertising on billboards, the U.S. Federal Reserve Board has made it clear that the reign of abnormally low interest rates is coming to an end. The only question remaining is the timing and magnitude of future rate hikes.

In Canada, our interest rates will likely follow suit, although, if the Canadian dollar stays strong, rates may not rise as fast as those in the U.S. While the Federal Reserve Board does not directly control bond interest rates—the market forces of supply and demand determine security prices and yields—the federal funds rate, (knows as the “bank rate” in Canada)

has a ripple effect on financial markets. As such, the Federal Reserve Board has been indicating it intends to avoid the kind of overreaction experienced by the bond markets in 1994, when a series of rapid interest rate hikes caused bonds to post negative total returns.

The Vanguard Group, a leader in the investment management business, recently asked fund managers to share their thoughts on the potential impact of rising interest rates on several assets classes.

Bonds: First pain, then gain. In general, bond prices decline when interest rates rise. Existing bonds sell

at lower prices to compensate for the fact that buyers can get newer bonds with higher yields, but the declines are far from uniform. For example, government bonds with longer maturities tend to be more interest-rate sensitive.

“Duration is the best indicator of rate sensitivity for a bond or a bond fund” said Paul Kaplan, of Wellington Management Company.

“If duration is three years and interest rates rise one percentage point, then there’s three percentage points of principal erosion. If you’re a shareholder in a bond fund, you want interest rates to rise because you’re a lender and want higher yields. The process of getting those higher yields can be painful but in the long run you’re better off.”

Here’s the painful part. If rates rise from four per cent to six per cent in the next 18 months a typical bond fund will see no net return in the first two years. The capital loss suffered by the bonds in the fund will offset all income gains.

Stocks: A mixed picture. The ramifications of rising interest rates are less clear-cut for stocks.

“It’s normal for interest rates to rise when the economy gets better,” said Ed Bousa of Wellington Management Company. “When rates go up moderately, it’s not a problem for the stock market or the economy it’s healthy because it helps ration

MONEY MATTERS

By Peter Kutney

capital. That’s what happens in the first half of an economic recovery.

“When the economy is overheated and the Federal Reserve Board moves to stop inflation by raising rates, that’s frequently a negative environment for both stocks and bonds.

Clearly, we are not in that phase of the cycle. Rising interest rates at this juncture are a function of a healthy demand, not the Federal Reserve Board moving to choke off inflation… and a healthy economy is very good for stocks.”

History has demonstrated that consistent growth companies do well in this environment, as opposed to sectors such as utilities, income trusts and some financials. These areas do poorly, as they are less competitive from a yield standpoint compared to newer bonds or income products.

Is inaction the best reaction? So how do you prepare your portfolio for rising interest rates?

If you are already well diversified across and within asset classes suitable to your risk tolerance, then the best option might be to do nothing.

If you’re heavily weighted to utilities and income trusts, then you might want to lighten up in that area.

Some investors may consider switching to bond sectors, such as corporate bonds that are historically less interest-rate sensitive, but Wellington Management’s Paul

Kaplan is wary of that route. “You may have a lower interest-rate risk, but you’re taking on more credit risk.

Risk-averse investors may switch to a short-term bond fund, or cash, but that means giving up a lot of yield.”

Here is one more thing to consider. Since the Federal Reserve Board and the Bank of Canada have loudly broadcast their intention to raise rates, it is possible that the bond market has already understood and discounted future rate hikes. After all, interest rates on longer-term bonds are already much higher than those of short-term bonds.

It is suggested that an easier route for some investors is simply to go with a low-risk balanced fund to take advantage of undue movements in either stocks or bonds. If stocks go up and bonds go down, holdings in stocks can be reduced and moved into bonds.

When the economy slows down, a balanced fund stands to gain, as bonds start to perform better and stocks worsen. On the other hand, if the economy were to weaken right away, more stocks can be bought in preparation for the next recovery. A balanced fund has a built-in adjustment mechanism, unlike most investors.

Peter Kutney is a financial planner with Equinox Financial Group in Burnaby. He can be reached at 4381603 or at pkutney@telus.net.

Customer Service Is A Priority At YVR Parking or most travellers, arriving home from a trip always beckons a sense of anticipation, especially when the plane touches down on the runway and home is only minutes away.

Imagine the letdown when get to your car and find the battery dead.

A few weeks ago, after returning from a week-long trip, a customer at YVR’s Long-Term Parking Lot discovered she had left her car lights on all week.

Fortunately, there was an off-duty shuttle driver nearby in the cashier exit booth. Even though he was on a break, Jim Irwin cheerfully assisted with the battery boost and the customer was on her way in minutes.

Despite her effort to give Irwin a gratuity, he refused to accept her offer.

Customers using the Long-Term Lot appreciate the personalized services they receive from the drivers. It is not uncommon for the shuttle drivers to let customers off directly at their cars, complete with luggage assistance.

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The Long-Term Parking Lot offers convenience and the lowest-priced parking at the airport—$7.50 a day, plus taxes. With a discount coupon available from travel agents, the price is even lower. The lot is located less than five minutes from the terminals, and serviced 24 hours a day by complimentary shuttle buses featuring state-of-the-art wheelchair lifts. The wait for a shuttle bus is just five to eight minutes.

In 2003, YVR Parking received its highest satisfaction rating since inception. This level of service contributed to the IATA ranking of YVR Parking as the No. 1 airport parking service in North America, two years in a row.

Revenue generated through YVR Parking is re-invested into airport facilities and infrastructure, including maintenance of roadways and groundside areas.

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GlobeGround North America has

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Come and see our exciting New lineup of Vehicles.

No time for a test drive?

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Cell: (778) 858-0498 Dealership: (604) 273-7521 www.richmondchrysler.com

Comfortable accommodation, with special discounts for airline personnel. Five minutes from airport, in Richmond.

Free pick-up to and from airport.

Phone Penny or Ross (604) 273-1198 E-mail: chestnuttree@shaw.ca Web site: www.bbcanada.com/2011.html

Grant McDaniel (former YVR Air Canada employee)

BAGGAGE HANDLERS POSITIONS AVAILABLE. All jobs are permanent part time and pay $8.84/h. Must hold valid B.C. Drivers Licence.

Please fax résumé to 604-303-4574 Attn. Rick No phone calls please

ACCOMMODATION FOR RENT BURNABY MAYFAIR Close to Metrotown shopping. $110 per day includes furnished room, 2 beds, meals, laundry, private bath, cable, indoor lap pool, sauna, Jacuzzi, exercise room, billiards and theatre room. High-security building.

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Providing uniformed security officers since 1974.

Securiguard is the Largest Privately Owned Security Firm in BC. Securiguard is seeking applicants for security positions at the Access Control Points in the Vancouver Airport.

Applicants must have previously held a full YVR Restricted Area Pass. Security (BST) training will be provided to suitable applicants.

Apply with your résumé via e-mail recruiting@securiguard.com or by fax to 604-488-3523 No Phone Calls Please www.securiguard.com

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RELAXING BODY MASSAGE SPECIAL Waxing from $5.00 and up 35 Minutes - $25.00 Deep pore cleaning facial - $29.95/60 mins.

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ACCOMMODATION FOR RENT EMPLOYMENT OPPORTUNITIES

AFFORDABLE LUXURY AT ITS BEST Minutes to Airport!!!

PIEDMONT HAWTHORNE/SHELL AEROCENTRE At the Vancouver International Airport currently has an opening for a full-time and part-time Ramp Linecrew to join our winning team.

Successful candidate must hold a valid Class 3 with air, have a passion for aviation, and have exceptional customer service skills.

If you think you have what it takes to join our team, then send your résumé Attn: Chris Paul Email: chris@fbovancouver.com • Or fax: 604-279-9942

Oceanside Steveston! Century Royale Apts: 604-277-7368 Minutes to Beautiful Ocean, Steveston Village and next to Garry Point Park!

Convenient Location! Carlton Park Gardens: 604-275-7271 Huge and modernized studio, 1 1+den, 2 and 3 BR; both properties are minutes to Shopping, Bus, Parks, Ocean, Dining & Entertainment! Gym, pool, sauna, recreation centre, satellite TV, sec. parking and sec. camera upgrades. Going Fast! Call Today!

Aviation World Vancouver’s

Day After Boxing Day Sale!

Monday December 27, 2004 To help clear out some of the excess inventory we’ve purchased over the year, we will be having a ONE-DAY SALE with discounts on virtually everything in the store!!!

So if there’s still room in the bank account after the holidays, we recommend you join us to catch some GREAT DEALS in-store. (sorry - the sale does not extend to our web site)

featuring:

Come in and try our newest Menu Item

The White Spot

Belgium Waffle Served Daily until 4pm

AWARD-WINNING BURGERS

Tomato Basil Fettuccini

We toast our White Spot bun especially designed to enhance our White Spot burgers and then top it with just the right amount of creamy smooth mayo and our secret relish.

The finished burgers are topped with crispy long slice dill, served with our own special recipe creamy coleslaw and our signature fries.

Plump, juicy Roma tomatoes simmered with onions, garlic, red wine, Parmesan cheese & fresh basil. Served with Panini Bread.

Medallist Bar & Grill

WHITE SPOT is also located in post-security C Concourse at Legend’s Bar and Grill

Book Your Christmas Luncheon Now

604-231-3731 EXT 2230 or 2274

Located Level 3 • Domestic Terminal Departures Pre-Security

Merry Christmas & a Happy New Year

OPEN EARLY

for breakfast at 6am daily.

Featuring White Spot famous breakfast served until 4pm