This paper will assess whether the not-for-profit model of 1992 was accompanied by any similar grand design and whether it has in any way addressed the needs of the airlines, the travelling public, cargo and, ultimately, the Canadian economy. The paper will examine airport policy in Canada, the United Kingdom and the United States, including underlying issues of traffic levels, landing fees, commercial airport operations and competition. It will question whether productivity, transparency, accountability and pricing have been achieved under the not-for-profit model. The paper concludes that the not-for-profit model has constrained rather than enhanced growth and represents little more than an intermediary step before privatization. With the wide benefit and limited criticism of privatized airports, the model best suited to the growth of airports and the economic growth of Canada is a privatized airport model.