Quote:
Originally Posted by whatnext
Are they? I thought the various airport authorities ran them on behalf of the government.
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Sort of. Its a no-share structure. Government owns 0 shares as its a not-for-profit. They allow local councils to run airports, on a renewable lease for 0 dollars (on 40 year terms).
The way they were pushed down is all operations, buildings, facilities, aprons, runways are pushed to be fully privatly operated by the council (GTAA, YYC etc). The government has a board representative, but they are generally run independently and threre is no politics.
The government has no say, no funding, and no input outside of its board seat.
The airport councils pay rent to the government. Government is not involved in short or long term decisions. Some airports (Toronto and Vancouver) have stated for a long time that if they went fully private (ownership, no rent payments) to help fund future projects. Right now Toronto is going to the bond market for their expansion, if they were private, it would be 100% the same project, but they could take on the debt cheaper and have more options.
Calgary has said this would not be non-impactful as they are doing everything a true private airport can do. I am not sure what other airports have said, Quebec city wanted to be fully private but that was pre covid.
The government could tenically end all leases tomorrow, and put them all under federal control and funding. They won't, but part of the agreement they can.