Prime Minister Mark Carney announced that the federal government will open Canada’s four largest airports to private investment through long-term operating concessions. Speaking at the Canada Investment Summit in Toronto on Tuesday, Carney stated that Ottawa will maintain ultimate ownership of the underlying land and assets while leveraging private capital and expertise to modernize operations. The initiative targets Toronto Pearson International Airport, Vancouver International Airport, Montreal’s Trudeau International Airport, and Calgary International Airport. Carney noted that the generated capital, expected to reach tens of billions of dollars, will be reinvested into critical national infrastructure. The announcement aligns with broader federal goals to secure massive investments across roughly 167 projects nationwide over the next five years. During a question-and-answer session, Carney emphasized that Canada evaluated international airport privatization strategies to avoid past global pitfalls. The federal government currently owns roughly two dozen major airports, leasing the property to non-profit airport authorities that generate about $525 million annually in lease fees. While the government previously highlighted lease extensions as a vital mechanism to encourage private sector involvement, internal memos revealed minor delays in the negotiation timeline earlier this year. International and domestic pension funds, which frequently invest in foreign aviation infrastructure, are among the prominent participants at the summit. Aviation experts suggest that welcoming private funding offers a necessary alternative to relying strictly on passenger fees or the bond market to upgrade aging airport infrastructure across the country.
Source: cbc.ca
