Canada plans to sell operations of four major airports to for‑profit firms
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Prime Minister Mark Carney has proposed selling the operations of Toronto, Montreal, Calgary and Vancouver airports to for‑profit corporations, and the four airports together generate more than $500 million annually in rent for the federal government.
Three of the airports rank among the world’s top 100 and the ten best in North America in the Skytrax World Airport Awards, with Vancouver Airport placed first in North America and tenth worldwide, while Calgary Airport is the only one outside the global top 100; the federal government previously leased Pearson’s Terminals 1 and 2 to the Pearson Development Corporation in 1993, which sued for over $600 million, settled for $60 million in 1997, and later sold Terminal 3 to the not‑for‑profit Greater Toronto Airports Authority for $719 million, $319 million more than its $400 million construction cost.