The Goose Bay Airport located at 5 Wing Goose Bay has assets with an estimated replacement value of $1.2 billion. This includes significant infrastructure, the majority of which is owned by the Department of National Defense.

Management of 5 Wing Goose Bay is the responsibility of a private company, Serco Facilities Management Inc. In the fall of 2016, Serco was once again awarded the contract for site services.

In the 1990s, part of the initial negotiations surrounding change in management with the Departments of National Defense and Transport Canada was the definition of a Civil Aviation Footprint and the privatization of the Goose Bay Airport. This has led to the creation of the Goose Bay Airport Corporation which assumed management of the airport in 1998. Their responsibilities include management and marketing of airport industrial lands for civilian uses. The Corporation is marketing the airport to industry for strategic uses such as import and export, freight-forwarding services, manufacturing and aircraft servicing operations, and much more. The Goose Bay Airport is one of very few airports on the continent qualifying as an alternate landing site for the Space Shuttle program, due directly to the quality of its infrastructure and favourable weather conditions.