Ottawa’s plan to invite private capital into Canada’s biggest four airports is already facing criticism, alongside plenty of unanswered questions

The federal government plans to invite private investment to Calgary’s airport — along with three other hubs — but it could face opposition as industry watchers wait for potential effects on passengers.

Prime Minister Mark Carney floated the idea at the Canada Investment Summit, where his government aims to drum up billions of dollars from global investors.

He said the federal government would retain ownership of the underlying land and assets, while potentially gaining access to “tens of billions of dollars” in new capital.

The group that operates Calgary’s airport opposed privatization when the previous Liberal government studied the concept around a decade ago. Still, its current leadership said it’s open to exploring Carney’s proposals.

While the latest plan presents an opportunity for investors, everyone will be “hyperconscious” about the costs for travellers, said Chris Murray, an analyst at ATB Cormark Capital Markets.

“The idea here is how can we promote the stability of the airports, maybe improve those airports, and at the same time improve service?” Murray said.

The investments would help fund operations and growth at airports in Calgary, Toronto, Vancouver and Montreal. Proceeds could also bolster regional air services and investment in commuter transportation across the country, according to Carney.

Canadian airports run a not-for-profit model, where revenues pay for the airport. The authorities that operate them lease the space from the federal government.

Several airport authorities have opposed privatization in the past.

When the federal government under then-prime minister Justin Trudeau was studying privatization nearly a decade ago, airports in Ottawa, Vancouver and Calgary launched a website opposing the concept.

They argued privatization would increase travel costs for passengers, remove local voices from airport boards and undermine the Canadian economy.

“Airport authorities reinvest every penny earned back into our airports, and that investment has created some of the best airport facilities in the world,” Bob Sartor, then-chief executive of the Calgary Airport Authority, told the Calgary Herald in 2017.

Now known as Calgary Airports, the not-for-profit body that operates the city’s airport, said the federal government has raised the issue of alternative models in recent months. In a statement, the authority said it welcomes the chance to take part in consultations.

Calgary Airports said it’s also open to exploring ways to strengthen Canada’s airport system, including improving access to investment that can support growth.

There have been several investments in the Calgary International Airport over the years, including runway improvements, security upgrades and terminal renovations. The airport served a record 19.4 million passengers in 2025.

In a statement, Calgary-based WestJet Airlines Ltd. said it supports the federal government’s plans to review alternative airport ownership models, and hopes to participate in discussions.

WestJet said any future model should deliver measurable benefits for passengers, communities and the broader economy, while supporting affordability and competitiveness.

Lily Chang, secretary-treasurer of the Canadian Labour Congress, which represents millions of union workers across the country, is concerned a more private-oriented model at airports could mean less oversight. She believes the government is moving in the wrong direction on the issue.

“One of the models is leasing out to private investors, so that they will retain any revenue, any surplus generated, and so that doesn’t come back into government hands,” Chang said in an interview.

“They might be responsible to their shareholders, but they’re not responsible to anybody else that might be invested or interested in the airports,” Chang added.

Carney said the government would continue to own part of the airport “concession” in which private capital invests — such arrangements are typically operating contracts lasting a decade or more.

The government will conduct consultations in the coming weeks, according to Carney. He did not lay out a timeline or detail any legislative changes that may be necessary.

Murray said it’s still early days.

“Who exactly would be the partners? What would the structure of the investments have to look like?” he said.

“This is a fairly common model in other parts of the world,” he added. “But you want to make sure that it’s appropriate for the airport and it’s good for passengers.”

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