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Airport Privatization and $500B in Deals: Canada’s Investment Summit Comes to a Close
The summit drew nearly $500 billion in commitments, including $100 billion from Canadian pension funds and insurers and a $50 billion infrastructure fund.
- On Tuesday, Prime Minister Mark Carney announced at the Canada Investment Summit in Toronto that Ottawa will seek private investment to operate Canada's four major airports, using proceeds to fund regional infrastructure.
- Carney argued Canadian pension funds already manage airport assets globally and should bring that expertise home to improve regional air services. A previous privatization attempt was shelved 10 years ago amid labour opposition.
- Expected to generate tens of billions of dollars, the plan retains government ownership of airport lands through Canada Strong, a sovereign wealth fund. Carney promised consultations in the coming weeks on the concession model.
- Ontario NDP Leader Marit Stiles warned that private investors prioritize profit over shareholders, while Canadian Labour Congress secretary-treasurer Lily Chang called privatizing profitable infrastructure during a trade war the wrong move.
- IFM Investors, which manages 17 airports globally, expressed potential interest in bidding if opportunities emerge, as the federal government prepares to define the framework for future tender offers.
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Carney Holds Off Tabling Airport Privatization as Opposition Grows
Privatizing Canada's airports doesn't seem to be on Prime Minister Mark Carney's agenda for an event this week featuring investors and business leaders from around the globe. - | - Open Jaw is a leading travel authority on industry news and insights delivering fast, focused analysis, product updates, as well as its renowned Pink Couch insider interviews with top execs.
Coverage Details
Total News Sources11
Leaning Left9Leaning Right1Center0Last UpdatedBias Distribution90% Left
Bias Distribution
- 90% of the sources lean Left
90% Left
L 90%
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