{"id":57257,"date":"2025-03-11T12:03:55","date_gmt":"2025-03-11T12:03:55","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/03\/11\/ottawa-gets-serious-about-pensions-investing-in-canadian-airports\/"},"modified":"2025-03-11T12:03:55","modified_gmt":"2025-03-11T12:03:55","slug":"ottawa-gets-serious-about-pensions-investing-in-canadian-airports","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/03\/11\/ottawa-gets-serious-about-pensions-investing-in-canadian-airports\/","title":{"rendered":"Ottawa gets serious about pensions investing in Canadian airports"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Transportation<\/li>\n<li class=\"breadcrumbs__item\">Airlines<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Pathway to investing in terminals, hotels and shopping on airport lands via subleases, subcontracts and subsidiaries falls short, pensions say<\/p>\n<div class=\"callout callout--noindent flex-align-center flex-justify-between\" data-evt-val=\"{\" control_fields=\"\" data-evt=\"visible\" data-evt-typ=\"element_view\"><span class=\"callout__text\"> Get the latest from Barbara Shecter straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/financialpost.com\/author\/bshecter\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 11 11\" width=\"11\"><polygon points=\"1.1 0 7 6 1.1 12 0 10.9 4.8 6 0 1.1\"\/><\/svg> <\/span><\/button><\/div>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Mar 11, 2025<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 15\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">5 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"e3f7ada8-1531-4321-b00e-e33b968f300c\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0312-bc-pearson.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=h4pShKr_9DHtpkQ2MK3Isw,&#10;            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https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0312-bc-pearson.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=sQN7XGjcq3QAsPR295BFpg 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0312-bc-pearson.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=Pp3Np47JMuP1wqXje4JZjw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0312-bc-pearson.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=pHhovJc4QsFFdjM0AWGylg 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0312-bc-pearson.jpg?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=G_ZdEEKuZbGUa7q7wyMWRQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0312-bc-pearson.jpg?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=vYUnVIwtWbILmpsBAwzbkg 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Transport Canada on Friday issued a policy statement that said pension funds can enter commercial subleases to invest in and develop airport lands with not-for-profit airport authorities across the country that operate 22 major facilities. <\/span> <span class=\"credit\">Photo by Jack Boland\/Toronto Sun\/Postmedia Network<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">The federal government has laid the groundwork for pension funds to invest in Canadian airports with a new policy statement, and at least one major fund has taken notice.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">\u201cWe\u2019re interested in looking at airports as an investment opportunity,\u201d Jeff Wendling, chief executive of the Healthcare of Ontario Pension Plan (HOOPP), said. \u201cWe\u2019re very interested in looking at more investment opportunities in Canada and infrastructure is an area where we\u2019d love to do more.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment8712574608517374973441823358320640\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div 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articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Transport Canada on Friday issued a policy statement that said pension funds can enter commercial subleases to invest in and develop airport lands with not-for-profit airport authorities across the country that operate 22 major facilities, including Toronto\u2019s busy Pearson International Airport.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Airport authorities can also create subsidiaries to encourage pension investment on airport lands \u2014 from terminals to hotels and shopping centres. The for-profit share-capital subsidiaries would allow private investors to buy or be issued shares so long as the airport authority maintains a controlling interest.<\/p>\n<p>\u201cBy working with subsidiaries, private investors can build or operate new facilities at \u2026 airports, which may be for aeronautical or non-aeronautical purposes,\u201d the document said.<span class=\"Apple-converted-space\">\u00a0<\/span>\u201cPrivate investors and airport authority subsidiaries can also undertake joint investment projects that will support the development of new airport facilities, like terminal buildings.\u201d<\/p>\n<p>With ministerial approval, airport authorities could also sublease terminal facilities and operations to a pension fund or other investors, even where formal partnerships or joint ventures are not permitted under existing ground leases.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot14 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste9905591996197469722812354691858432\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Posthaste\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment4166111776194890347523409948180480\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cSubleases, which can involve aeronautical activities such as cargo facilities or non-aeronautical activities such as energy generation, can be used to drive real estate\u00a0development on airport lands and in the community, which benefits the airport and others,\u201d the document said.<\/p>\n<p>A third avenue for investment would allow institutional investors to provide subcontracted services for certain aspects of airport operations.<\/p>\n<p>Twenty-six private airports across Canada are part of the National Airports System (NAS), which was created in the early 1990s, and 22 of those \u2014 including Pearson and airports in Vancouver, Calgary and Edmonton \u2014 are operated by not-for-profit airport authorities on federal land through long-term ground leases.<\/p>\n<p data-async=\"\">Transport Canada\u2018s policy statement said the government is also looking into negotiating extended lease terms with those airport authorities, which could make investments more palatable for long-term investors, both in terms of the horizon for returns and the amortization of costs.<\/p>\n<p>As part of that process, the government plans to look at making other changes to the ground leases to smooth the way for third parties to invest in and develop projects on airport lands.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment3934021025125613379441717095170048\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cSuch amendments could make it easier for NAS airport authorities to enter into joint ventures, or arrangements like limited partnerships, where the risks and rewards of land and infrastructure development projects can be shared between \u2026 airport authorities and investors,\u201d Transport Canada said.<\/p>\n<p data-async=\"\">The policy statement was issued following a request by former Bank of Canada governor Stephen Poloz, who was given a broad mandate by the government last year to find ways to persuade Canada\u2019s large pension funds to deploy more of their billions in investment dollars in Canada.<\/p>\n<p data-async=\"\">Last month, Poloz said he had concluded there was an immediate path to pension investment in Canadian airports via \u201cadjacent\u201d assets such as parking garages and freight services, as well as new developments like sustainable aviation fuel facilities, which aren\u2019t core to the business of an airport.<\/p>\n<p>Michael Wissell, HOOPP\u2019s chief investment officer, said the government\u2019s clarification on how such investments would work is \u201cvery welcome\u201d and that he expects it to pique the interest of other Canadian pensions, several of which have invested directly in airports in Australia, the United Kingdom and Europe.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment874702445335456820227135749750784\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cWe anticipate HOOPP and, quite frankly, many of the other plans in Canada will really take a good look at this emerging opportunity,\u201d he said. \u201cIt\u2019s a good example of (how) when you present opportunities for long-term pools of capital to invest in Canada, they\u2019re going to look at it.\u201d<\/p>\n<p data-async=\"\">A spokesperson for the Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec said the policy statement represents a step in the right direction to make Canadian airports \u201cmore investable\u201d for institutional investors.<\/p>\n<p>\u201cAirports can be attractive assets, and our team, which has a 20-year track record of investment in the sector, has been monitoring the situation closely, keeping an eye out for opportunities,\u201d Kate Monfette said in an email.<\/p>\n<p data-async=\"\">Some pension veterans, however, don\u2019t think the policy statement will move the needle much, given that some of Canada\u2019s largest pensions, such as the Ontario Teachers\u2019 Pension Plan, the Ontario Municipal Employees Retirement System (OMERS) and the Caisse, are accustomed to taking large and controlling stakes in airports in other countries, either as part of consortiums or on their own. That isn\u2019t possible under the terms laid out by Transport Canada.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_6\">\n<section aria-describedby=\"advertisment5176313002832672645959525748178944\" class=\"ad\">\n<p>Advertisement 6<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">\u201cThis falls short of what was hoped for. Outside of Canada, the Canadian pension plans can and do own and operate the entire airport,\u201d said Jim Keohane, a director on the board of Alberta Investment Management Corp., the province\u2019s $169-billion pension and endowment investor. \u201cThis does not allow for that. The airport authorities will still be the owners and operators.\u201d<\/p>\n<p>There may be some interest in partnerships to build and operate peripheral facilities such as warehouses on the leased land, he said, but these will be relatively small projects and won\u2019t provide for the scale of investments that the large funds were hoping for and can get outside Canada.<\/p>\n<p>Even less compelling, Keohane said, is a condition that any facilities or assets constructed on leased airport lands would become the property of the federal government following the termination or expiry of the land lease.<\/p>\n<p>\u201cThis would certainly make these projects less attractive than alternative projects,\u201d he said. \u201cIt remains the case that there are more attractive alternatives outside of Canada.\u201d<\/p>\n<p>Another veteran pension executive, who requested anonymity because he wasn\u2019t authorized to comment on the policy statement, said the opportunities to invest appear to be peripheral and he does not expect that much will come of it unless the government and aviation authorities open up the possibility of directly buying an airport.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_7\">\n<section aria-describedby=\"advertisment2321439940989215872801014936502272\" class=\"ad\">\n<p>Advertisement 7<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-7\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"7\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-7\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Officials at the Canada Pension Plan Investment Board and Ontario Teachers\u2019 said they need to study the policy statement and its implications before making any comment on their interest. OMERS could not be reached for comment.<\/p>\n<p>The Canadian Airports Council (CAC), which represents 100 airports including all the privately-operated NAS airports, said the airports have been advocating for greater financial flexibility in their ground leases and extensions to unlock investment opportunities.<\/p>\n<section aria-labelledby=\"moreTopicLabel8749704434712418147316207064186880\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" path=\"\" emerges=\"\" for=\"\" pensions=\"\" to=\"\" invest=\"\" in=\"\" airports=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Stephen Poloz delivers a keynote address to a business conference, Thursday, November 24, 2022 in Ottawa. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0211-bc-poloz.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=82AyhjEjGA_NZ1nS4uXp4w\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0211-bc-poloz.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=HZY3pcmB0krM43nFVhfXzw\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0211-bc-poloz.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=82AyhjEjGA_NZ1nS4uXp4w, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0211-bc-poloz.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=IJUikS64CSscg25lnaDYAw 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0211-bc-poloz.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=GkeeGu7_A9R_3Iq3OGvSww 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Poloz: Path emerges for pensions to invest in airports<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" big=\"\" pensions=\"\" are=\"\" ready=\"\" for=\"\" airport=\"\" privatization=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/08\/airports-0821.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=Nc9y-pbOSIGaZKzTAm3Oig\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/08\/airports-0821.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=Nc9y-pbOSIGaZKzTAm3Oig, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/08\/airports-0821.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=-3sfS1aBGUS7u94nTblTOQ 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/08\/airports-0821.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=e82_Y0V1_NcWTq8x1jOCOw 3x\" alt=\"airport\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canada\u2019s big pensions are ready for airport privatization<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p data-async=\"\">\u201cWe are pleased to see this policy statement that will allow airports to explore the extension of airport ground leases, which would provide the long-term stability needed for significant capital projects and infrastructure development on airport lands and business parks,\u201d Monette Pasher, president of the council, said in a statement.<\/p>\n<p>Canadian airports plan to invest $28 billion over the next 10 years to accommodate growing passenger demand and diversify markets, according to the CAC.<\/p>\n<p data-async=\"\"><em>\u2022 Email: bshecter@postmedia.com<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Ottawa gets serious about pensions investing in Canadian airports<\/a><br \/>\n<br \/>2025-03-11 12:03:55<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Transportation Airlines Pathway to investing in terminals, hotels and shopping on airport lands via subleases, subcontracts and subsidiaries falls short, pensions say Get the latest from&#8230;<\/p>\n","protected":false},"author":2,"featured_media":57258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-57257","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=57257"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/57258"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=57257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=57257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=57257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}