TORONTO: Canada will seek private investment to operate its four largest airports through long-term concessions as Prime Minister Mark Carney pushes to attract international capital and strengthen the economy amid trade tensions with the United States.
Carney announced the initiative on Tuesday while welcoming dozens of global investors to Toronto for a summit focused on more than 160 projects identified by his government as important to Canadian economic growth.
The plan covers major airports serving Toronto, Montreal, Calgary and Vancouver. The Liberal government had previously signalled that it was considering ways to attract additional airport investment but had not provided specific details.
Government to Retain Ownership of Airport Assets
Carney said Canada would retain ownership of the underlying airport land and assets while inviting private capital and expertise into their operations and future expansion.
According to the prime minister, long-term concessions could help unlock the value of airport infrastructure while supporting investment and growth.
Moreover, two asset managers attending the summit told Reuters they would be interested in potential airport investments.
The proposal forms part of Carney’s broader campaign to attract global capital as Canada seeks new sources of economic growth during its trade dispute with Washington.
Labour Groups Warn of Higher Passenger Costs
However, Canadian labour organisations have opposed airport privatisation, arguing that greater private-sector involvement could ultimately increase costs for travellers.
The government has not yet outlined the precise concession structure, potential investment requirements or timeline for the initiative.
Consequently, significant details remain unresolved as Ottawa explores how private investors could participate in airport operations without acquiring the underlying public assets.
Nevertheless, Carney’s announcement marks a significant step towards expanding private investment in some of Canada’s most important transportation infrastructure.
