Liberals hire pro-privatizing bank to advise them on privatization
For some time now the Liberals have been flirting with the idea of privatizing airports. The move would garner much needed funds for the government, turn the airports into profit making ventures, and generate more corporate donations for the Liberals.
The federal government is looking at whether Canada’s major airports should be sold off to private investors as a way to raise tens of billions of dollars in new cash to fund other infrastructure projects. Transport Canada bureaucrats are reviewing the ownership structure of Canadian airports, now operated by not-for-profit airport authorities, to assess the possibilities of transferring them to for-profit enterprises — and collect a windfall in the process.
Certainly, Zurich-based Credit Suisse has for the past decade been a major global player in the lucrative business of privatizing government infrastructure, including airports. Indeed, in 2009, Credit Suisse bought Gatwick Airport in the U.K., through a joint venture with General Electric. Credit Suisse also recently indicated an interest in advising the Russian government on its plans to privatize some major Russian state-owned enterprises.