Porter Airlines (P3, Toronto Billy Bishop City Centre) could launch an initial public offering (IPO) by the turn of the decade, Chief Executive Officer Michael Deluce recently said in an interview.
Deluce told Bloomberg that the offering would not be in 2024 or 2025 but “could be in the two- to five-year range.”
It would not be the first time the Canadian carrier has looked to raise money from a stock sale; it tried to do it in May 2010, but put the plan on hold due to unfavourable market conditions caused by volatility in the equity markets.
Last year, Porter Airlines introduced its new sister Porter Airlines Canada (PD, Toronto Billy Bishop City Centre) to operate flights to the United States. The company also formed a joint venture with Air Transat (TS, Montréal Trudeau), combining both complementary networks at Toronto Pearson and Montréal Trudeau airports.
Additionally, Porter Aviation Holdings partnered with Macquarie Asset Management to support the development of a passenger terminal at Montréal Metropolitan Airport, Completion of which is scheduled for mid-2025.
The ch-aviation fleets module shows that Porter Airlines has a fleet of 58 aircraft, including twenty-nine DHC-8-Q400s, and twenty-nine E195-E2s. It also has an additional forty-six E195-E2s on order from Embraer.
