Prime Minister Mark Carney is pitching a plan for private investors to take over operations at Vancouver’s International Airport and Canada’s three other largest airports.
Since 1992, YVR has been run by the not-for-profit Vancouver Airport Authority.
Airport CEO Tamara Vrooman said the airport has been discussing private investment with Ottawa for months.
“We look forward to exploring how private investment can continue to drive passenger experience, support our people and community, and ensure YVR delivers long-term economic value for the region and Canada,” she said in a statement.
B.C. Premier David Eby said any deal must protect YVR’s level of service while helping undeserved regions.
“If the intent is to free up money that is to then be reinvested in other airports in British Columbia to help them raise their game as well, that’s something that we could absolutely support,” he said.
Canada’s largest labour organization is warning the investors’ pursuit of profits could cost jobs and drive up fees.
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“They’re gonna want to get it quickly, as quickly as possible,” Lily Chang with the Canadian Labour Congress said.
“And so there are different ways that you can generate profit. You either charge more or you save on other things that you’re spending money on.”
Major airports, including London Heathrow and Sydney Airport, already operate with private investment.
Former Air Canada COO Duncan Dee said privatized airports tend to run more efficiently.
“And with those efficiencies come lower costs,” he said.
“So while I don’t think Canadians can expect lower airport fees, what they can hopefully expect are airport fees that will not rise as much.”
Conservative leader Pierre Poilievre said any deal must serve Canadians, not well-connected investors.
“We want to make sure it doesn’t end up being sweetheart deals for corporate power brokers and Liberal insiders,” he said.
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