Canada Prepares to Open Major Airports to Foreign Private Investment
Ottawa, Tuesday, 15 September 2026.
Ottawa is taking initial steps to allow foreign private capital into Canada’s four largest airports, shifting away from its long-standing non-profit model despite mounting pushback from national trade unions.
Government Announcement and Summit Context
Transport Minister Steven MacKinnon briefed Liberal MPs regarding plans to open Canada’s four major international airports—Vancouver, Calgary, Toronto, and Montreal—to foreign or private investment [1]. The Carney government is scheduled to announce the initial steps for opening stakes in these major airports to private investors during the second day of an investor summit in Toronto [1]. This Canada Investment Summit, hosted by Prime Minister Mark Carney, brings together global investors and Canadian CEOs to discuss investment in Canadian industries and infrastructure [4]. Although airport privatization is not formally on the agenda for the summit, the option has been on the radar for the current federal government since at least the 2025 budget [3].
The federal government currently manages major airports via not-for-profit airport authorities holding long-term ground leases, a strategy previously signaled in the 2025 budget and a spring 2026 economic update [1]. Ottawa aims to modernize infrastructure and unlock institutional capital by shifting away from the current non-profit authority model governing major hubs [1]. This move is designed to create significant cross-border opportunities for international infrastructure funds and aviation operators [1]. The summit began on Sept. 14, 2026, and continues through Sept. 15, 2026, serving as a backdrop for these developing announcements [5].
Shifting Ownership Models and Economic Data
Canada’s major airports have operated for 30 years under a not-for-profit model, managing federally owned land via long-term ground leases [2]. Global statistics as of 2025 show over 850 airports across 90+ countries involve private-sector participation, accounting for 43% of global air passenger traffic [2]. Europe leads with 75% private involvement, while North America remains at 1% [2]. The government is reportedly reviewing the Australian privatization model, where the state retains airport ownership while granting long-term leases to private investors [1].
Current airport funding relies on a user-pay basis and Airport Improvement Fees (AIFs), which the text identifies as failing to drive necessary large-scale capital investment [2]. The stated government objectives for this shift are to improve service for Canadians and unlock capital tied up in airport infrastructure for reinvestment in broader Canadian economic growth [2]. Current airport authorities operate as not-for-profit entities, with surpluses reinvested into infrastructure and annual returns of roughly $525 million in rent to the federal government [5]. However, the CLC report estimates private investors would require airports to generate 15% to 20% more revenue than the current model to ensure competitive returns [5]. The midpoint of this required revenue increase is calculated as 17.5 percent [5].
Labor and Public Opposition
The Canadian Labour Congress released a report titled “Public Runways, Private Profits” on Sept. 11, 2026, analyzing airport privatization models in Australia, New Zealand, Portugal, the United Kingdom, and the United States [5]. Unifor’s Aviation Council sent the federal government a clear message during a protest today at the Canada Investment Summit 2026 in Toronto: Canada’s airports are not for sale [4]. Unifor, Canada’s largest private-sector union representing 320,000 workers, asserts that airport privatization leads to increased passenger and business fees [4]. The union argues that selling off public assets puts vital services in the hands of investors whose only goal is to maximize profits [4].
Prominent voices have also criticized the move, with Avi Lewis stating on X that privatizing airports is a terrible deal for travellers, workers, and the public purse [6]. Lewis argues that once private equity moguls are in, they own a piece of a natural monopoly and print money for decades [6]. The CLC report warns that proposed privatization of the country’s airports could come at a significant cost to both workers and passengers [3]. Australian case studies cited in the report include a 60% increase in revenue collected from airlines per passenger at Perth Airport over a decade [5]. Additionally, at Sydney Airport, 40% of the workforce was cut after job protections expired post-sale [5].
Legislative Path Forward
The Spring 2026 Economic Update, released on April 28, 2026, confirmed government intent to explore “alternative models of ownership,” with the Spring Economic Update 2026 Implementation Act receiving Royal Assent on June 18, 2026 [2]. The June 18, 2026, legislation amended the Canada Transportation Act, requiring entities to provide the Minister of Transport with data regarding the valuation of airports and capacity of the national air transportation system [2]. The federal government intends to introduce enabling legislation for airport privatization later in 2026 [2]. Future privatization efforts require amendments to the Aeronautics Act, the Canada Transportation Act, and the ground lease framework [2].
Any move toward airport privatization in Canada would engage a complex web of federal legislation and regulatory frameworks [2]. The federal government is exploring alternatives to the current not-for-profit airport model to address debt-heavy infrastructure funding constraints [2]. Enabling legislation may be introduced before the end of 2026 [2]. As of 2026-09-15, the status of the enabling legislation is ongoing or pending [2]. The government is reportedly evaluating the Australian model of airport privatization, which retains government ownership while issuing long-term leases to private-sector investors [1].