Porter Airlines Inc.'s operations will continue from airport with
enhanced customer experience
TORONTO, Aug. 29, 2014 /CNW/ - Porter Aviation Holdings Inc. (PAHI) is
exploring a sale-leaseback of its passenger terminal at Billy Bishop
Toronto City Airport (BBTCA). The terminal is operated by City Centre
Terminal Corp., a PAHI subsidiary.
If completed, the transaction would allow PAHI to focus on its core
airline business through Porter Airlines Inc. (Porter). Porter will
continue to be based at BBTCA with no change to its airline operations.
Proceeds from the sale will allow for continued investment in the
"The investment by PAHI in designing, constructing and operating the
BBTCA terminal at an early stage of the airport's revitalization was
crucial to supporting Porter's growth," said Robert Deluce, president
and CEO of PAHI. "This helped create a unique passenger experience
based on speed, convenience and service, which the airport is now
internationally recognized for."
Using experienced operators for airport infrastructure, such as
terminals, is part of a global trend to enhance operations through
private sector management. With a professional terminal operator, the
airport will benefit from continued and focused development of retail,
concessions and the overall passenger experience.
PAHI has retained Barclays Capital Canada and RBC Capital Markets to
facilitate this process.
Porter Aviation Holdings Inc. (PAHI)
PAHI is a holding company for subsidiaries that include Porter Airlines
Inc. and City Centre Terminal Corp.
SOURCE: Porter Aviation Holdings Inc.
For further information:
Porter Aviation Holdings Inc.