Canada to seek investors to manage its four largest airports
In Canada, the government plans to attract private investment through long-term concessions to manage the country’s four largest airports — in Toronto, Montreal, Calgary and Vancouver. Prime Minister Mark Carney said this during an investment summit in Toronto, the Jerusalem Post reports.
Concessions without selling assets
According to Carney, the state will retain ownership of the land and airport assets. At the same time, the authorities want to attract new capital and private-sector expertise for their operation and development.
The prime minister said that long-term concessions should help unlock the value of the assets without transferring ownership of the land and airport infrastructure to investors.
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Investor summit in Toronto
Carney is hosting dozens of international investors in Toronto and expects to raise funds for more than 160 projects. According to him, these projects are important for the Canadian economy amid a trade war with the United States.
Canada’s Liberal government said as early as last year that it was considering ways to increase investment in airports, but did not provide specific details at the time. Two asset managers attending the summit told Reuters that they were interested in investing in airports. Canadian union groups oppose privatization, believing it could raise costs for passengers.
