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Air Canada
Symbol AC
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Close 2017-04-10 C$ 13.24
Market Cap C$ 3,607,871,971
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Globe says Air Canada, others hear call for "megahub"

2017-04-10 07:21 ET - In the News

Also In the News (C-BBD) Bombardier Inc
Also In the News (C-CNR) Canadian National Railway Company
Also In the News (C-WJA) WestJet Airlines Ltd

The Globe and Mail reports in its Monday edition that outgoing Metrolinx boss Bruce McCuaig says Pearson airport's ambitious plan to become a transportation megahub is the kind of project that Ottawa should consider as it seeks to lure billions in private capital into public transit projects. The Globe's Bill Curry writes that Mr. McCuaig recently announced he is leaving Metrolinx after more than six years as president and chief executive officer of the provincial transportation agency. He is taking on a new advisory role with the federal government as it launches a $35-billion Canada Infrastructure Bank. In recent months, Pearson airport officials have been promoting a plan to raise billions for regional transit connections, including the possibility of a high-speed rail link through Southwestern Ontario. A report that has not yet been released to the public estimates that private capital could help fund more than $12-billion worth of new transit, including a $6-billion high-speed rail line connecting Toronto and Windsor. One option to fund the projects would be to partially privatize the airport. The federal Liberals have high hopes for the infrastructure bank, which may be in place this year.

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