In response to questions about its ownership, the company said the following: “To clarify, Nieuport Aviation is owned by institutional investors advised by J.P. Morgan Asset Management. Nieuport Aviation has been the passenger terminal partner at Billy Bishop Toronto City Airport since 2015.”
The institutional investor that owns Nieuport Aviation is a group called the Infrastructure Investments Fund. It is registered
in the Cayman Islands. A former J.P. Morgan banker, Hai-Gi Li, sits on the board of Nieuport Aviation. A 2023
document from J.P. Morganalso lists Nieuport Aviation under its portfolio/operating companies roster.
In an unrelated investigation, the Federal Energy Regulatory Commission ruled that a J.P. Morgan subsidiary is an affiliate of the Infrastructure Investments Fund and the relationship “undermines any potential for independence between the two entities.” That ruling included labelling the airport as affiliated with J.P. Morgan, according to US nonprofit consumer advocacy organization
Public Citizen.