by Jen Mallia
Last updated: 2:05 PM ET, Wed September 16, 2026
In his keynote speech yesterday at the Canada Investment Summit in Toronto, Prime Minister Mark Carney announced his government’s intention to seek foreign investments at Canada’s four biggest airports: Toronto Pearson (YYZ), Montreal-Trudeau (YUL), Vancouver International (YVR) and Calgary International (YYC).
“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,” he said.
This is in contradiction to a report from the Canadian Labour Congress Canadian Labour Congress (CLC) which was published ahead of the summit. Public Runways, Private Profits: Why Airport Privatization Would Be Risky and Costly for Canadians took a look at privatized airports in Australia, New Zealand, Portugal, the United Kingdom and the United States. Ultimately, the report concludes that private investment in airports results in higher charges, reduced workforce and greater pressure to generate returns for investors.
According to CTV News, Carney told the summit that private investment will mean a “better passenger experience” and reinvestment of that capital will go into infrastructure that “Canada needs for the next generation.”
The Canadian Union of Public Employees (CUPE) continues to oppose private investment at Canadian airports, which currently operate under a not-for-profit model where local airport authorities manage federally owned land via long-term leases.
“Canada’s airports are critical public infrastructure,” CUPE said in a statement issued yesterday, Sept. 15, 2026. “They exist to serve passengers, workers and communities, not to be profit centres for private investors. Surrendering control of our strategic transportation infrastructure simply does not square with this government’s stated goal of building a stronger, more resilient and sovereign Canadian economy.”
“There is no magic to airport privatization: private investors expect a return, and Canadians will be the ones paying for it,” says Mark Hancock, CUPE’s National President. “That means pressure to raise fees, cut staff and cut corners on the services travellers rely on.”
CUPE cites Australian airports as an example, stating that after Perth Airport was privatized, “charges to airlines per passenger – costs ultimately passed on to travellers – skyrocketed by more than 60 percent” and that the Sydney Airport ultimately cut 40 percent of its workforce.
When questioned at the summit about his announcement, Carney said “We’re selling a concession, not privatizing the airport,” adding that Canada is “getting the benefit of being late to this” and will be applying lessons from other countries.
The prime minister also said consultations on the issue will be happening in the coming weeks and security standards will remain with the regulators, reports CTV.
Topics From This Article to Explore
