Of the 15 board seats available 5 of these are elected by Commercial Airlines and Business, 2 by Employee Unions of the aviation industry, and 4 are elected by the board itself. Only 3 are government nominees, (unelected officials ). Followed by the CEOs board seat.
With the majority of the members focused on aviation industry benefit, this is not an impartial organization or one considering total "costs" to society. It is narrowly focused on industry objectives of increasing capacity, and efficiency for airlines only.
While it seems clear that there have been cost and efficiency benefits to privatization, other countries have maintained government ownership and oversight of their privatized companies while Canada has not. It has been debated in the US for 20 years, with opponents arguing that an industry owned structure like Canadas would be like having the fox guard the hen house.
The vast majority of their income appears to come from commercial airlines and cargo operators, with small fees also charged to independent pilots who use their services.