The government of Canadian Prime Minister Mark Carney is planning to open the country’s four major airports to private investment.
Carney made the suggestion during his keynote address at the Canada Investment Summit in Toronto.
It’s in addition to Carney’s plan to persuade investors with deep pockets to invest in Canada. His keynote address was heard by hundreds of investors representing some of the biggest pension funds, sovereign wealth funds and private investors in the world.
Carney said his government is not going to privatize Canada’s major airports — the government will still own the land and the assets. The private investor could take over the operating of the airport.
That could bring in tens of billions of dollars that then could be reinvested in smaller regional airports as well as provide better service for air travelers.
"We’ll reinvest in our regional airports," Carney said. "It’s far too expensive. The service isn’t good enough to fly from the smaller airports to the center or other places in Canada. To invest in our transportation system, to invest in national broadband."
The four airports that would be impacted include Toronto-Pearson, Montreal Trudeau, Calgary and Vancouver.
Opposition parties say they want to study the plan to see if it makes economic sense for Canadians.
Some analysts worry about prices going up at the airports. Unions are concerned about having to deal with private companies.
Already some global investors are taking a hard look at the possibility, especially those with pension funds who are looking for a steady stream of income.
