People who fly out of Toronto's Billy Bishop Airport may soon have an alternative to a short ferry ride to access the island airport.

City council has approved a deal with the Toronto Port Authority to build a pedestrian tunnel to the airport, but the proposed $60-million project still needs to be approved by the federal government.

The deal gives the TPA access to city land to construct the tunnel, which would take people from downtown Toronto to the island via a passage under Lake Ontario.

If the project goes ahead, the city could save $10 million by upgrading its water and sewer infrastructure in the same tunnel.

Earlier this year, a city-commissioned report found that a pedestrian tunnel would save air passengers about four minutes of waiting time before their flights, compared with using the ferry.

According to the TPA, the ferry ride is the shortest in the world.