How selling off Canada’s airports could build tens of billions of dollars of public transit
The article discusses the potential for the Canadian federal government to raise tens of billions of dollars by selling or leasing publicly owned airports to private investors, particularly pension funds, and using the proceeds to fund public transit infrastructure. It highlights examples of airport privatizations in the UK and Australia as successful models, noting that similar moves in Canada have been politically sensitive. The author suggests linking airport asset sales directly to transit investments in the same metropolitan areas to ensure transparency and public support.
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Open this photo in gallery:International passengers arrive at Pearson Airport in Toronto in February. Ottawa could raise money by selling Canada's airports or leasing them out on a long-term basis, writes Tony Keller.Jon Blacker/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountTwo years ago, France’s Vinci SA, a construction and infrastructure firm, paid £1.27-billion ($2.35-billion) for 50-per-cent ownership of Britain’s sixth-busiest airport, in Edinburgh. It was minor news in the business pages, and nowhere else. Airports in Britain were privatized decades ago. Yawn.In 2019, a share of the ownership of Gatwick, London’s second airport, changed hands in a transaction that valued the asset at $10.7-billion.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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