Carney Touts Private Investment in Canadian Airports as 'Smart' Use of Assets

Canada is considering privatizing its airports to attract long-term investors and raise funds for infrastructure projects. The idea was first floated by former Bank of Canada governor Stephen Poloz, who led a task force on alternative models of ownership. Transport Canada has since outlined interim private investment paths that don't require legislative changes.

IFM Investors, a leading Australian fund manager, is showcasing its experience in acquiring airports worldwide. The company's executive director, Gian-Carlo Peressutti, said IFM would be interested in bidding on Canadian airports if the opportunities arise. He noted that Canadians are largely supportive of private capital funding infrastructure projects.

The proposal has drawn criticism from labour groups, who warn that private investors will prioritize profits over passenger service. The Canadian Labour Congress claimed that private investors expect to make billions back and questioned the government's plan to use privatization proceeds for nation-building projects.