MS · News · 20260918N

Canadian Airport Concessions Mandate

MORGAN STANLEY · 2026-09-18 · Importance 31 · Surprise 42 · In source text

Morgan Stanley and CIBC were appointed to advise the Canadian government on selling operating rights to Toronto, Montreal, Vancouver, and Calgary airports. The proposed transactions could generate tens of billions of dollars, although the digest does not disclose Morgan Stanley’s advisory fee. Proceeds are expected to fund regional airports and other infrastructure projects.

Key facts

Impact estimates

metricdirectionstageexpectedbasis
revenuepositivecontingent—The Canadian government has enlisted Morgan Stanley and CIBC to advise on selling the operating rights to its four largest airports:…