Statement from Toronto Port Authority on Porter Announcement of Sale-Leaseback of Billy Bishop Toronto City Airport Terminal

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August 29, 2014 (Toronto) – The Toronto Port Authority today responded to the announcement by Porter Aviation Holdings Inc. to explore a sale-leaseback of the Billy Bishop Toronto City Airport passenger terminal.
President and CEO Geoffrey Wilson had the following comment on the announcement:
“Porter Aviation Holdings Inc. is an independent business and an important tenant at the Billy Bishop Toronto City Airport, which is owned and operated by the Toronto Port Authority. Porter Aviation Holdings Inc. constructed and owns the airport terminal at Billy Bishop Toronto City Airport. Today Porter Aviation Holdings Inc. announced that it is exploring a sale-leaseback of the passenger terminal.
The Toronto Port Authority is supportive of another qualified organization assuming ownership of the terminal and will work with the new owner to ensure that the high levels of service that were established by Porter are maintained in order to provide passengers with a best-in-class travel experience. The guest experience at the BBTCA is paramount and our priority is to assure a seamless transition from both a business perspective and from a traveller point of view. 
The sale of the terminal sets up a scenario whereby Porter can focus on airline carrier operations as one of the airport’s lead airlines; TPA can focus on airport and airfield operations; and the new owner can focus on terminal operations. This diversifies the ownership structure and will ideally ensure greater ability to invest in all areas of BBTCA which is positive news for travellers.”
For more than 100 years the Toronto Port Authority has worked with its partners at the federal, provincial and municipal levels to enhance the economic growth of the City of Toronto and the Greater Toronto Area. The Toronto Port Authority owns and operates Billy Bishop Toronto City Airport, which welcomes more than two million passengers each year; the Outer Harbour Marina, one of Canada’s largest freshwater marinas; and, Terminals 51 and 52, which provide transportation, distribution, storage and container services to businesses at the Port of Toronto. The Toronto Port Authority is committed to fostering strong, healthy and sustainable communities and has invested more than $5.6 million since 2009 in charitable initiatives and environmental programs that benefit communities along Toronto’s waterfront and beyond. TPA operates in accordance with the Canada Marine Act and is guided by a nine-member board with representation from all three levels of government.
Media Contact:
Erin Mikaluk
Senior Manager, Communications & Media Relations
Toronto Port Authority
Tel: (416) 863-2065
Cell: (647) 298-0544