Carrier reports 20% monthly revenue growth, 8% net-profit margin
TORONTO, Sept. 6 /CNW/ - Porter Airlines is growing its operations base
at Toronto City Centre Airport (TCCA) to accommodate increasing passenger
levels as it prepares to begin service to New York and other destinations in
Construction begins this month on an extended terminal, including three
additional arrival and departure gates. The project is scheduled for
completion by Dec. 31, with passenger areas continuing to feature leather
lounge seating, complimentary wireless Internet access, beverages and snacks,
while offering greater availability of computer work stations.
"The terminal experience is a defining aspect of Porter, emphasizing
convenience, service and sophistication," said Robert Deluce, president and
CEO of Porter Airlines. "This growth is part of our original plan to serve at
least 17 Canadian and U.S. destinations, and we will continue delivering on
Porter's 'flying refined' promise as we enter new markets."
Scott Associates Architects Inc. will continue the work they began on
Porter's original TCCA terminal project. Scott Associates is a full-service
architectural firm specializing in the design, planning and management of
unique projects like airport complexes, office buildings and research and
telecommunications facilities. BECC Construction Group is the project's
contractor. BECC has developed its reputation as a leader in the construction
industry through involvement in complex institutional projects, including for
law enforcement, airport authorities and various medical health groups.
Porter's terminal investment is driven by the airline's strong financial
performance, including average monthly revenue growth of over 20 per cent
since beginning flights October 23, 2006. June saw a net-profit margin of
eight per cent.
"Porter has been a well-financed company from the beginning and our most
recent financial figures indicate that our business model is sound as we enter
into the next phase of our development," said Deluce. "An eight per cent net
income margin is among the strongest in the North American airline industry.
With consistent revenue growth, our numbers will continue to exceed
expectations and the next steps in our growth can be taken with confidence."
About Porter Airlines
Porter Airlines Inc. is a regional passenger carrier based at Toronto
City Centre Airport. The airline currently serves Toronto, Ottawa, Montreal
and Halifax. Porter plans to fly to as many as 17 short-haul Canadian and U.S.
destinations. Visit www.flyporter.com or call (416) 619-8622 or (888) 619-8622
for more information.
For further information:
For further information: Media contact: Brad Cicero, Porter Airlines,
(416) 619-8593, email@example.com