Toronto’s Pearson airport is launching a multibillion-dollar upgrade that aims to boost passenger numbers by more than a third to 65 million a year by the early 2030s.

The revitalization plan looks to ramp up traffic and tighten on-time performance with improvements ranging from repaved runways to “modernized retail” and possible terminal expansions.

Kicking off Monday, the initial $3-billion phase revolves around an expanded airfield, better lighting systems, more electric vehicle charging and new baggage carousels.

Airport CEO Deborah Flint is framing the renovations as a gateway to greater global trade and passenger satisfaction.

Pearson, the country’s largest airport with more than 47 million travellers annually, hopes to grow that figure by 35 per cent within about seven years.

The renewal effort comes as the government considers privatizing Canada’s federally owned airports, partly due to the massive cost of maintaining them.

This report by The Canadian Press was first published May 11, 2026.

Christopher Reynolds, The Canadian Press