April 16th, 2024
Ottawa, ON,
Canada’s Airports’ Pleased with Progress Toward Flexible Infrastructure Investment Options
Notable Mention of Sustainable Aviation Fuel and Increased Funding for Security
We applaud the government for their efforts, particularly in working toward identifying and clarifying ways Canadian airports can pursue infrastructure investment opportunities to attract capital, including from pension funds.
“Air travel plays a vital role in our economy and society, fostering connectivity and driving growth. Investments in airport infrastructure deliver a substantial return to our economy. We have asked for more investment tools in the toolbox and today’s budget announcement starts the process to identify those tools.” noted Monette Pasher, President of Canadian Airports Council (CAC).
Canadian airports are already global leaders in digital innovation and with the right partnerships, tools and support can further accelerate investments in AI and smart infrastructure that improves efficiency of the traveller journey.
Today’s budget creates a working group co-chaired by former Bank of Canada Governor Stephen Poloz and supported by the Minister of Finance to identify pension fund investment opportunities for many sectors, including airports.
The CAC has asked for more financial investment tools for airports along with an extension of the government land lease at airports to meet the growing demand for air travel and business development needs. “We are pleased to see government taking steps to clarify options for investment in airport infrastructure and look forward to learning more.” said Pasher.
The budget also provided investment for new measures to support biofuels production in Canada, with a focus on renewable and sustainable aviation fuel (SAF). “We are so pleased to see this advancement, it is what the aviation ecosystem has called for in the roadmap and will help the sector and government work in partnership towards achievement of Canada’s net zero goals.” added Pasher.
Another positive note includes a proposed $108 million for Transport Canada and the RCMP to administer the Transportation Security Clearance Program.
By working together, we can seize the opportunity to enhance air travel, making it more efficient, safe and affordable for everyone. We remain committed to partnering with policymakers and industry stakeholders to achieve these shared goals to meet the growing demand of air travel in our country.
About the Canadian Airports Council
The Canadian Airports Council (CAC), a division of Airports Council International-North America, is the voice for Canada’s airports community. Its 60 members represent more than 100 airports, including all of the privately operated National Airports System (NAS) airports and many municipal airports across Canada.
Prior to the pandemic, Canada’s airports supported nearly 200,000 jobs, generating $13 billion in wages and $7 billion in taxes to all levels of government.
For more information, please contact:
Julie Pondant, Canadian Airports Council
