The government says the new model follows ‘best practice in other countries’ and will ‘unlock their true value’ by bringing new capital and expertise into airport operations and growth.

Carney added that the money raised from the concessions will be spent on infrastructure development, including upgrades to regional airports across the country.

Regulatory bodies will continue to oversee security and safety standards, ensuring that private operators meet national requirements.

A 2022 study by the U.S.-based National Bureau of Economic Research found that airports owned by private‑equity funds saw a 20 % rise in passengers per flight, an 84 % jump in overall traffic, new terminals and gates, and fewer flight cancellations.

The same study noted that airport fees charged to airlines tend to increase after privatization, and that deregulation often follows private ownership.

The Canadian Labour Congress warned that the concession plan could raise costs for passengers and airlines, put pressure on workers, and shift more airport revenue to private investors. ‘In the middle of a trade war, handing profitable public infrastructure over to private investors is exactly the wrong move,’ said Lily Change, secretary‑treasurer of the Canadian Labour Congress.

Canada already leases 23 airports to 21 private airport authorities. The federal government collects up to 12 % of gross airport revenues as rent, amounting to more than $6.5 billion between 1992 and 2019.