Canada is reducing rents at federally owned airports by more than 60% to relieve pressure on operators and help cut air fares.
Transport Minister Jean Lapierre told reporters the move would save operators close to $8 billion over the course of existing 60-year leases. High rents have long been an ongoing complaint of operators.
Mr Lapierre predicted the cuts would lead to lowered air fares.
“The government expects airport authorities to pass on savings through fee reductions,” reported wire services.
Report by David Wilkening
