In October 2022, the City of Stratford retained HM Aero to prepare the Stratford Municipal Airport Study with a focus on whether the airport ccould become a financially sustainable operation and provide options if it cannot be made financially sustainable. The study was structured across three parts:

1. An exploration of baseline conditions, including the airport’s economic and social benefits and its performance relative to other comparator airports;

2. Future opportunities for revenue generation; and

3. Recommendations on the airport’s future.

The airport was found to not be financially self-sustaining and although success may be achievable in increasing revenues, the increase required in the transfers to the airport’s reserve fund to support capital projects will increase the facility’s tax-supported costs to between $220,000 and $296,000 annually between 2024 and 2032. HM Aero developed three options for analysis:

1. The airport’s divestment and transitioning to private ownership;

2. The retention of ownership by the City and its operation privately through a headlease agreement; and

3. The continued ownership of the facility by the City with contracted operations.

HM Aero recommended that the third option be advanced, with the City continuing to own the airport while proactively pursuing business and revenue generation opportunities to improve its financial performance and implementing initiatives to improve its environmental sustainability. Although this model will continue to result in costs being borne by the municipality in the provision of the airport as a municipal service, HM Aero found this is supportable considering the assessment of the facility’s alignment with the Municipal Strategic Priorities.