YVR could be first airport in federal privatization plan, with up to 20% First Nations stake
The proposal would sell a long-term operating lease while Ottawa keeps ownership of the land and facilities.
Vancouver International Airport could be the first major Canadian airport to bring in private investors under the federal government's proposed overhaul of airport operations, Daily Hive reported on Thursday, citing an Oct. 7 report in The Globe and Mail.
Sources told The Globe that Ottawa has identified YVR as the first airport to pursue privatization, partly because it anticipates investment from First Nations. First Nations investors could hold a minority stake of up to 20 per cent, with institutional investors experienced in running airports holding the rest.
The proposal could involve selling a long-term lease to operate the airport, with the federal government keeping ownership of the land and infrastructure. Pension funds such as PSP Investments are considered potential candidates.
Prime Minister Mark Carney said in September that privatization opportunities would open at Vancouver, Calgary, Toronto Pearson and Montreal airports. The process remains at an early stage.
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