Porter Aviation to try for listing on stock market
April 16, 2010, Toronto - Porter Aviation Holdings Inc. says it's planning to launch an initial public offering of shares, which would be the first time the privately held regional airline has attempted to raise money on public markets.
April 16, 2010 By The Canadian Press
Porter did not give details about how much it would like to raise through the planned IPO, nor did it specify on which market it would list the shares.
The airline, which operates out of the Billy Bishop airport on an island just off Toronto's waterfront, says it would use the money raised from a public offering to build working capital, including the possible acquisition of more aircraft.
Porter, which began operations in 2006, currently operates a fleet of 18 aircraft flying short-haul flights within Canada and the United States.