Toronto-based Porter Airlines on Wednesday revealed itself as the “unidentified Americas-based” customer for the Bombardier CSeries. The purchase agreement, still subject to certain conditions including relaxing the airport’s limitations on jet operations, calls for a firm order for 12 CS100s and options on another 18.
Toronto Port Authority
An Air Canada affiliate plans to launch operations from Billy Bishop Toronto City Airport on May 1, posing the first competition from the controversial downtown island airfield for incumbent regional carrier Porter Airlines since it launched operations in 2006.
Toronto-based Porter Aviation Holdings announced this week that it has decided not to proceed with a proposed $120 million IPO due to unfavorable market conditions caused by volatility in the equity markets.
Toronto-based Bombardier Q400 operator Porter Airlines plans to issue a $120 million initial public offering as it prepares for expected competition from Air Canada Jazz at the downtown Billy Bishop Toronto City Airport.
Bombardier inked a firm contract with Air Canada regional partner Jazz Air covering 15 Q400 turboprops, the Canadian manufacturer announced today. The order represents a conversion of an MOU signed in February.
Air Canada Jazz has signed an MOU with Bombardier that outlines the terms of a firm order for 15 Q400 turboprops, sending a clear signal to rival Porter Airlines of its intention to compete directly on routes from Billy Bishop Toronto City Centre Airport with virtually identical airplanes.
Canadian regional carrier Porter Airlines has settled quite comfortably into the niche it began carving for itself two years ago, when CEO Robert Deluce finally realized his dream of reopening Toronto City Centre Airport to scheduled airline traffic. Today, Deluce oversees a fleet of eight Bombardier Q400 turboprops flying to seven destinations within a 500-nm radius of the island airport.
As part of a plan to develop Toronto City Center Airport into a viable commercial hub, the Toronto Port Authority (TPA) has entered negotiations with a local holding company to base a new regional airline at the island airport. Known as Regional Airlines Holding Co. (Regco), the new airline plans to start operations within a year, by which time it plans to inaugurate service to Ottawa, Chicago and New York.
Regco Holdings CEO Robert Deluce last month announced his intention to proceed with plans to base a new regional airline at Toronto Island Airport this year. The new carrier, called Porter Airlines, would fly 10 new 70-seat Bombardier Q400 turboprops to 17 Canadian and U.S. destinations within a 500-nm radius of Toronto.
Would-be Toronto City Center Airport tenant Regional Airlines Holding Co. (REGCO) has filed a C$500 million ($385 million) lawsuit against the city after it reversed an earlier decision to allow construction of a bridge across Toronto Harbor to the island airport. Chief executive Robert Deluce’s proposal for the new airline, slated for launch this fall with new Bombardier Q400 turboprops, hinged on a fixed road link to the airport.
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