TORONTO — Prime Minister Mark Carney says he wants to see private investors operate Canada’s four largest airports — Toronto Pearson, Montreal, Calgary and Vancouver.

In a keynote address at the Canada Investment Summit in Toronto today, aimed at bringing $1 trillion in new investment to Canada in the next five years, the prime minister says the federal government would retain ownership of the land and assets.

He says the goal is to shift federal spending on major airports’ operating costs toward smaller regional airports and other local infrastructure projects.

The prime minister says that putting more money into smaller airports should lead to more affordable regional and remote air travel.

Carney told investors at the summit that Canada is positioning itself as a “safe harbour” for investment on a chaotic global stage.

As reported yesterday, the Canadian Labour Congress (CLC) says privatizing Canada’s airports could lead to higher costs for travellers, increased pressure on airport workers and the loss of long-term public value.

The CLC’s report looks at airport privatization in Australia, New Zealand, Portugal, the UK and the U.S.

CAUCUS CONCERNS

Meanwhile CTV News, citing multiple sources, reported that the federal Liberal caucus held a call with MPs yesterday to discuss the future of Canadian airports, which currently operate under a not-for-profit structure. Local airport authorities manage federally owned land through long-term leases.

One MP told CTV News that several caucus members reportedly raised concerns that the proposed changes were being presented as a “fait accompli.”

The federal government previously signalled its interest in alternative airport ownership models in the 2025 federal budget and again in its spring economic statement.

Unifor’s Aviation Council says it sent the federal government a clear message during a protest today at the Canada Investment Summit 2026 in Toronto: ‘Canada’s airports are not for sale.’

“Airport workers know from experience that privatization comes at a cost to them and the travelling public and creates worse working conditions across the aviation industry,” said Unifor National President Lana Payne.

“Outsourcing and contract flipping already drive down wages, benefits and working conditions, further public selloffs can only make this crisis worse for airport workers. We have seen over and over again, how the sell off of public infrastructure leaves us more vulnerable economically. If there was ever a time to hold the line and build more public infrastructure, it is now.”

With file from The Canadian Press