The prime minister told the Canada Investment Summit that Ottawa will retain ownership of airport land and assets
Prime Minister Mark Carney announced on Tuesday that his government is seeking private investors to operate Canada's four largest airports, framing the move as a chance to bring domestic pension fund expertise back to Canadian soil, as reported by The Canadian Press.
"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 inaugural Canada Investment Summit in Toronto.
The four airports being targeted in Toronto, Montreal, Calgary and Vancouver currently run under a not-for-profit model in which local airport authorities manage federally owned land through long-term leases. Both the 2025 federal budget and the spring economic statement had signalled Ottawa's intent to explore alternative ownership structures, but Carney's summit remarks marked the most concrete step yet.
Carney told summit attendees that private investment would deliver a better passenger experience and that the recycled capital would flow into infrastructure Canada needs for the next generation, while also drawing a direct line to the institutional investment community.
"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 said.
The summit, co-hosted by CPP Investments and PSP Investments, was designed to court $1 trillion in investment over five years for major Canadian projects. Notably, airports were not among the more than 160 projects listed in the summit's deal book.
