$10B upgrade planned for Montréal’s Trudeau airport

Key Takeaways:

• The Canada Infrastructure Bank is providing a $1 billion loan to ADM Aéroports de Montréal to support a $10-billion, decade-long expansion of Montréal-Trudeau International Airport.
• The project will include terminal upgrades, new gates, improved access roads, and a link to the REM transit system, aiming to accommodate up to 35 million passengers annually by 2035.
• The expansion is expected to create up to 9,000 jobs by 2028 and contribute $3.7 billion to GDP, reinforcing YUL’s role as a key economic and transportation hub for Quebec and Canada.

The Whole Story:

The Canada Infrastructure Bank (CIB) is lending $1 billion to ADM Aéroports de Montréal to help fund a sweeping, $10-billion overhaul of YUL Montréal-Trudeau International Airport — the largest infrastructure investment in the airport’s history.

The loan agreement, announced Wednesday, marks the financial close of a major funding partnership aimed at expanding and modernizing the airport as part of ADM’s 10-year “Flight Plan 2028–2035.” With passenger traffic at YUL surpassing pre-pandemic levels and ranking as the fastest-growing among Canada’s major airports, the project aims to meet surging demand with improvements on both the airside and cityside of the facility.

ADM says the upgrades will support up to 9,000 new jobs by 2028 and contribute nearly $3.7 billion to Canada’s GDP, adding to the nearly 60,000 jobs in Quebec already linked to the airport. Passenger volumes are projected to hit 25 million by 2028 and could reach as high as 35 million by 2035.

Improvements will include a new satellite jetty with additional gates and baggage handling capacity, along with expanded taxiways and tarmac infrastructure to boost aircraft operations. On the ground, plans call for reconfigured access roads, new parking areas, a revamped pick-up and drop-off zone, and a connection to the future REM light-rail station.

Ehren Cory, CEO of the Canada Infrastructure Bank, called the project a cornerstone investment in Canada’s trade and transportation sector.

“Our $1-billion loan towards this important project will result in key outcomes: improved functionality at one of Montreal’s vital economic hubs,” said Cory.

Federal Housing and Infrastructure Minister Gregor Robertson also endorsed the project, calling it a long-term investment in job creation, improved services, and economic resilience.

ADM CEO Yves Beauchamp said the financing gives the airport operator the flexibility to push ahead with multiple phases of construction at once.

“YUL’s development plan is extensive, but essential to ensure our international airport can continue to accommodate growing passenger numbers and meet the expectations of its users,” he said.

The not-for-profit airport authority says the CIB loan will allow it to accelerate work on a critical national transportation asset, helping position Montreal as a stronger global gateway in the years ahead.