KUGLUKTUK, NVT. -- Prime Minister Mark Carney says the federal government is seeking private investment to run Canada’s four major airports: Toronto-Pearson, Montreal-Trudeau, Calgary and Vancouver. “Following best practice in other countries, the government of Canada will retain ownership of the underlying land and assets, but we will unlock their true value by bringing in new capital and expertise to their operations and their growth,” Carney said during his keynote speech at the Canada Investment Summit on Tuesday in Toronto. The announcement comes after CTV News reported that the federal Liberal caucus held a call with its MPs on Monday to discuss the future of Canadian airports. The federal government has been actively exploring the privatization and alternative ownership models of its major airports, which currently run under a not-for-profit model where local airport authorities manage federally owned land via long-term leases. In both the 2025 federal budget and this spring’s economic statement, the federal government signalled its intent to pursue alternative ownership models. Speaking to the summit, Carney insists private investment will mean a “better passenger experience” and reinvestment of that capital will go into infrastructure that “Canada needs for the next generation.” “Canadian pension funds already successfully invest and manage airports around the world. It’s time to bring that same expertise back home to directly benefit Canadians,” Carney later added. Carney’s inaugural Canada Investment Summit got underway in Toronto on Monday, with the goal of courting $1 trillion in investment over the next five years for major projects. Airports were not among the more than 160 projects in the summit’s deal book. In a question-and-answer session after his speech, Carney emphasized that the federal government looked at other countries’ approaches before deciding on maintaining land ownership. “We’re selling a concession, not privatizing the airport,” he said, later adding that Canada is “getting the benefit of being late to this” and will be applying lessons from other countries. Why open airports to private investment now? The federal government under former prime minister Justin Trudeau previously examined the privatization of eight Canadian airports but opted against it due to mixed stakeholder feedback. Asked by reporters in Toronto why now is the right moment to seek private investment, Carney said “we are living in different times.” “This will be something that will take on increased significance in national broadband, including in the Arctic, and including connections between Europe and Asia, which is fundamentally strategic for this country,” Carney said. The prime minister also said consultations on the issue will be happening “in the coming weeks” and security standards will remain with the regulators. In an interview with CTV’s chief political correspondent Vassy Kapelos on Tuesday in Toronto at the summit, B.C. Premier David Eby said he is “not opposed to the prime minister talking about concessions related to the airports,” but is interested to hear more details. “The piece that I heard in his announcement this morning was about supporting regional airports, and that’s something that really needs to happen in British Columbia,” Eby said. “I’m sure my colleagues across Canada feel the same way.” Labour groups oppose airport privatization Prior to the summit, the Canadian Labour Congress (CLC) released a report saying privatizing Canadian airports could lead to higher costs for travellers, increased pressure on airport workers and the loss of long-term public value. In a new statement Tuesday, CLC secretary-treasurer Lily Chang warned private investment “will cost Canadians.” “In the middle of a trade war, handing profitable public infrastructure over to private investors is exactly the wrong move,” the statement reads in part. “If the goal is to make Canada stronger and more secure, we should be investing in the assets we depend on, keeping their value here at home.” The Unifor Aviation Council of Canada, meanwhile, protested outside the investment summit on Monday to push back against airport privatization. “Outsourcing and contract flipping already drive down wages, benefits and working conditions, further public sell-offs can only make this crisis worse for airport workers,” Unifor National president Lana Payne said in a press release. “We have seen over and over again how the sell-off of public infrastructure leaves us more vulnerable economically. If there was ever a time to hold the line and build more public infrastructure, it is now.” Asked by a reporter on Tuesday whether he supports the government’s plan to open the airports to private investment, Conservative Leader Pierre Poilievre said his party’s “mission is to save (consumers) money on air travel.” “We want to know the details of this plan and want to see how it’s going to save money for Canadians,” he said. “Because if it doesn’t save money, then why do it?” “We want to make sure that it doesn’t end up being sweetheart deals for corporate power brokers and Liberal insiders at the expense of hardworking Canadians who are already struggling to put food on their table,” he added. “So, we’ll wait for the details.”
