Toronto, Canada (4E) – Porter Airlines has denied a report by the Globe and Mail on Tuesday that it is looking for a buyer.
The report, which cited sources familiar with the matter, said that the company that operates the Toronto-based carrier has launched a search process and there is no guarantee that it will lead to a deal. Porter Airlines’ financial backers are pushing for a sale as an exit strategy, the paper said.
Company spokesman Brad Cicero said in an email to CBC News that there is rumor is not true and has been hearing the same for several years. Mr Cicero wrote that the company is not for sale and no talks with any parties have taken place.
As a result of its sale of the passenger terminal at Toronto’s Billy Bishop Airport Porter in 2015, Porter enjoys the strongest balance sheet of any airline in North America, Mr Cicero said.
Founded in 2006, Porter flies to 24 seasonal and year-round destinations in Canada and the U.S., using the Q400 turboprop aircraft from Bombardier.
(culled from http://exceptionmag.com/)
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