Tuesday, March 24, 2026
The Government of Ontario announced it will take ownership of Toronto’s stake in Billy Bishop Airport and the city-owned lands at the facility, moving to modernize and expand the airport to meet growing aviation demand across southern Ontario.
The province intends to introduce legislation in the spring session that would transfer the city’s place in the tripartite agreement governing the airport to the province and grant ownership of the city lands in exchange for fair compensation. The government also plans to declare Billy Bishop Airport a Special Economic Zone ahead of construction, streamlining approvals while maintaining safety and environmental protections.
The expansion matters to Ontario’s construction sector: the Toronto Port Authority estimates the modernized airport will support up to 23,000 jobs in construction alone and generate up to $8.5 billion annually to Canada’s economy by 2050.
Billy Bishop currently serves approximately two million passengers yearly and contributes $900 million in GDP and $1.8 billion in economic output annually while supporting 9,000 jobs. The airport connects Toronto to more than 20 cities across Canada and the United States and is Ontario’s third-busiest airport.
The Toronto Port Authority’s modernization plan includes updates to allow modern jet aircraft, runway modifications, terminal enhancements and improved waterfront access. The authority estimates passenger volume will rise to 10 million annually under the expansion.
“We’re unlocking Billy Bishop Airport’s full potential by expanding the airport so we can bring cheaper flight options, more routes and more convenience to the millions of people from across Ontario who use this airport every year,” said Premier Doug Ford.
Prabmeet Sarkaria, Minister of Transportation, said the expansion is critical infrastructure as Ontario’s population is projected to exceed 20.5 million by 2051. “Billy Bishop Airport is an important and underused part of Ontario’s transportation network, and additional capacity will help meet future demand, strengthen connectivity and support jobs across Ontario,” he said.
The airport also serves essential services: Ornge operates more than 4,700 provincewide air ambulance and medical transport flights annually from Billy Bishop.
The government said it has engaged with more than 130 First Nations regarding the regulatory framework for Special Economic Zones and will continue to consult with Indigenous communities.
The province will provide further details on the expansion plan in the 2026 Budget on March 26, 2026.
Featured image: (Government of Ontario)
