Do we really need to privatize the operation of Canadian airports?

By Oscar Vigil / TORONTO / 

Short answer: If it ain’t broke, don’t fix it!

In its search for greater economic and trade independence, Canada is thinking outside the box, something I believe is necessary and, frankly, long overdue. Sometimes we need a push to make us change and improve and, for better or worse, that push — in classic schoolyard-bully style — is being provided by Donald Trump.

This week, Prime Minister Mark Carney hosted the first Canada Investment Summit in Toronto, as part of his government’s strategy to catalyze $1 trillion in new investment in Canada over the next five years.

Overall, I support the need to attract investment, diversify our economy and build more infrastructure.

But there is one proposal I have serious concerns about: opening the operation of Canada’s four largest airports to private investors through long-term concessions.

To be clear, the government is not proposing to sell the airport lands and assets. They would remain publicly owned. What could change is who operates them and under what model.

Today, Canada’s major airports are operated by not-for-profit airport authorities with no shareholders, while the federal government retains ownership of the land.

And the current model generates significant resources.

Toronto Pearson, for example, reported approximately $2.085 billion in revenue in 2025, $366 million in net income and about $403 million in free cash flow.

So my question is simple:

What exactly do Canadians gain by changing a model that is already working?

The government argues that private concessions could attract new capital and expertise and generate tens of billions of dollars for infrastructure. That argument deserves consideration.

But private investors invest for one fundamental reason: to earn a return.

So Canadians deserve to know: Will passenger and airline fees increase? What protections will workers have? Will necessary investments continue? And how much control will Canadians retain over infrastructure that is strategically important to our economy?

And private-sector involvement does not automatically mean greater efficiency, just as it does not automatically mean worse service. It all depends on the deal and the protections built into it.

Before making such a major change, the government should clearly demonstrate that Canadians will be better served by the new model.

Our airports are strategic national infrastructure. Any decision about their future should put passengers, workers and the Canadian public interest first.

Prime Minister Mark Carney: before handing the operation of our major airports to private investors through long-term concessions, convince Canadians that we will actually be better off.

Until then, I’ll stick with the old saying: If it ain’t broke, don’t fix it!