The Globe and Mail reports in its Thursday, Sept. 17, edition that Prime Minister Mark Carney said at the inaugural Canada Investment Summit he would open up the doors to private investment in Canada's major airports, while the federal government would retain ownership of the underlying land and assets. The Globe's Mariya Postelnyak writes that proponents argue that this model has revitalized airports around the world. Michael Weisbach, co-author of a key study on airport ownership models, noted that "the airports seem to improve," winning awards, reducing cancellation rates and increasing flight routes. In fact, the study found that flight cancellation rates dipped as much as 39 per cent under private equity ownership. When JPMorgan first bought a stake in Cairns Airport in Queensland, Australia, as part of a 99-year lease with the regional government, the effects on service and infrastructure were immediate, Mr. Weisbach said. The biggest changes involved the number of international routes available, including from lower-cost carriers. A direct comparison with other jurisdictions, however, may overlook Canada's unique competitive environment and regulations that influence privatization outcomes.