TORONTO -The Toronto Port Authority (TPA) and Community Air are pleased to announce that they have reached a mutual agreement to settle the defamation action brought by the TPA, former Chairman Henry Pankratz, President & CEO Lisa Raitt and VP & CFO Alan Paul against Community Air and seven individual members.

Community Air has issued a Retraction and Apology which is attached to this news release.

TPA's President & CEO Lisa Raitt welcomed the retraction and apology, and said that Community Air's statement should bring the matter to a close. "We are pleased that this matter is now behind us," said Raitt. "We believe in the importance of open public debate and we are receptive to beginning a constructive dialogue and input which will help improve the TPA and its operations."

Bill Freeman, spokesperson for Community Air, said that Community Air shared the desire for constructive dialogue with the TPA. He stated "we are pleased that the TPA and the officers and directors have accepted our apology and that this matter is now settled. We look forward to a more positive relationship in the future."

The parties have agreed that this news release and attached Retraction and Apology will serve as the only communication on this matter.

Click here to download the letter of retraction and apology from Community Air.