Canada Wants Private Companies to Help Run Its Biggest Airports

Prime Minister Mark Carney announced private investors can put money into Canada's four biggest airports: Vancouver, Calgary, Montreal and Toronto. He spoke on the first full day of the Canada Investment Summit in Toronto. The Globe and Mail

Ottawa will still own the land and buildings. Private companies would run the airports for many years under deals called concessions, like renting a house for decades while the owner keeps the house. Right now, not-for-profit groups run big airports under long leases from Ottawa. The Globe and Mail

Carney said the money raised will go to other public works, including smaller regional airports. It will also help pay for new builds such as a sovereign broadband backbone, a Canadian-owned fast internet system. The Globe and Mail

Transport Minister Steven MacKinnon told Liberal MPs about the plan in an evening call. The Summit was set for September 14 to 15, 2026, in Toronto, Ontario. Prime Minister's Office Carney wants to attract C$1 trillion ($721 billion) in investment over five years. Reuters

The plan was flagged in budget papers. The Spring Economic Update 2026 calls for airport changes to lower costs for flyers and bring in private money. Finance Canada Budget 2025 sets aside $6 billion over 10 years from 2026-27 for airports and ports. Finance Canada Carney said Ottawa was looking at airport funding options when asked in Quebec about privatising airports. Reuters

Two other spending plans sit beside it. The Canada Strong Fund puts $25 billion in public money with private money into Canadian projects. Prime Minister's Office National Defence will spend $230 million to lengthen and modernise the main runway in Inuvik. Prime Minister's Office

The broader context here is who is in charge. Airports are Ottawa's job, so it can change the leases without a deal with the provinces. Local concerns still count. The land stays public and only the manager changes.

In my view, three tests matter. Will ticket fees stay low if investors want a profit. Will smaller airports get lasting help, and who decides. And who picks projects when the $6-billion plan, the $25-billion Fund and airport money all cover transport and internet, including how Parliament checks the work.