What Carney's pitch for private investment could mean for major Canadian airports

Carney's pitch for private investment in Canada's four major airports, Toronto, Montreal, Calgary, and Vancouver, aims to shift spending from these facilities to smaller regional airports. Under the proposed model, private investors would manage the airports for lease periods while regulation and oversight remain with Transport Canada.

Karen Hennessey, a partner at Gowling WLG, explained that such a concession agreement would require the government to set expectations regarding service levels, performance, public safety, passenger costs, and employee management. Privately operated airports are uncommon in North America, but according to a study, 51% of the top 100 busiest airports in 2018 had some private sector participation.

Privatization in Australia has led to price increases for passengers, but people are generally satisfied with the services. A study found that privately operated airports tended to run more smoothly but with increased fees. Canadian airport authorities, such as the Greater Toronto Airports Authority, remain open to enhancements that include private-sector investment, emphasizing the importance of affordability for Canadians.

Opposition parties, including the NDP and Bloc Québécois, firmly oppose Carney's plan, warning of increased costs for travelers and the risk of privatization turning critical public assets into money-making ventures for CEOs and shareholders.