Canada seeks ‘private investment’ in airports but feds to keep land, assets

In a bid to enhance Canada's airport infrastructure, Prime Minister Mark Carney announced on Tuesday that the federal government plans to seek private investment through long-term concessions for managing the nation's four largest airports. Carney emphasized that the federal government will maintain ownership of the underlying land and assets, unlocking their true value by bringing in new capital and expertise.

The funds raised from these investments will be used for infrastructure development, including at regional airports across Canada.

The four busiest airports in Canada, as per Transport Canada data, are Toronto Pearson International, Vancouver International, Montreal Trudeau International, and Calgary International. While the move could lead to higher costs for passengers and airlines and increased airport revenue for private investors, it has drawn criticism from various stakeholders.

The Canadian Labour Congress warned that privatization would result in higher ticket prices and pressure on workers, stating that it should be avoided, especially during a trade war. Conservative Leader Pierre Poilievre also criticized the plan, calling it a "sweetheart deal" for corporate power brokers. NDP Leader Avi Lewis agreed, calling it a "terrible deal" for travellers, workers, and the public purse.

The Bloc Quebecois, meanwhile, pledged to oppose the privatization of Montreal airport to foreign interests. The Carney government's plan to attract private investment in airports has been in the works for months, with details included in this year's Spring Economic Statement.