The Toronto Port Authority ("TPA") confirmed today that legal submissions related to the latest judicial review initiated by Air Canada were filed to the Federal Court of Canada. To its knowledge, the TPA has now fully complied with all court requirements. The court hearing is scheduled for July 6-8, 2010, and as such, the TPA is not in a position to comment on this matter at this time.

As announced in May, the TPA's formal Request for Proposals ("RFP") for additional commercial airline carriers at the Billy Bishop Toronto City Airport ("BBTCA") produced proposals from two prospective commercial carriers. These proposals are currently under assessment on behalf of the TPA by Airport Coordination Limited, an international independent consultancy firm specializing in demand and capacity assessment and scheduling process management. The TPA anticipates that it will be able to provide an update announcement after the RFP process is completed at the end of June.

About the Toronto Port Authority

The Toronto Port Authority was incorporated on June 8, 1999 as a government business enterprise under the Canada Marine Act as the successor to the Toronto Harbour Commissioners. It is a federal public authority providing transportation, distribution, storage and container services to businesses. The TPA owns and operates the Billy Bishop Toronto City Airport, Marine Terminals 51 and 52, and the Outer Harbour Marina. The TPA also provides regulatory controls and public works services to enhance the safety and efficiency of marine navigation and aviation in the port and harbour of Toronto.

For further information: about the TPA is available at www.torontoport.com.