Porter Airlines has informed CBC News via email that it is not looking for a buyer. The denial follows an article published in the Tuesday, February 9th, 2016 edition of The Globe and Mail which reported that Porter’s financial backers “have been actively looking for an exit strategy through a sale” and the search process had begun.
In his email to CBC News, Porter spokesman Brad Cicero said the airline is not for sale and there had been “no discussions with any parties.” In fact, Cicero wrote, Porter has “the strongest balance sheet of any airline in North America” as a result of the sale of the passenger terminal at Billy Bishop Airport in 2015.
The airline did experience a setback in late 2015 when the new Federal Liberal government took a proposed expansion of Billy Bishop Airport (Toronto Islands) off the table by refusing to reopen the tripartite agreement that governs the airport. Porter had requested the agreement be reopened and re-examined so that the airport’s runways could be lengthened to accommodate jets for longer-haul flights.
Porter, which is celebrating its 10th anniversary this year, flies to 15 destinations in Canada (Halifax, Moncton, Mont Tremblant, Montreal, North Bay, Ottawa, Quebec City, Sault Ste. Marie, St. John’s, Stephenville, Sudbury, Thunder Bay, Timmins, Toronto and Windsor.) It also offers service to nine U.S. destinations: Boston, Burlington (Vermont), Charleston, Chicago, Myrtle Beach, New York City, Orlando – Melbourne, Pittsburgh and Washington.
Related Articles on Porter Airline
“Porter Airlines denies report it’s shopping for a buyer,” CBC News (cbc.ca), Tuesday, February 9, 2016.
“No expansion for Toronto Island airport, transport minister says,” The Toronto Star, Friday, November 13, 2015.
“Tourism Leaders Back Porter Expansion Plans,” meetingscanada.com, March 10, 2014.
“Porter Plans Major Expansion,” meetingscanada.com, April 10, 2013
“Porter: the little airline that could,” The Globe and Mail, November 20, 2009.