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Porter Aviation Holdings sells Toronto City Airport terminal

Porter Airlines’ parent company, Porter Aviation Holdings Inc. (PAHI), has completed the sale of its passenger terminal at Billy Bishop Toronto City Airport (BBTCA) to Nieuport Aviation Infrastructure Partners GP (Nieuport Aviation), a consortium of Canadian and international infrastructure equity investors.“Nieuport Aviation is a seasoned airport operator that will deliver exceptional service at the terminal and help build on the existing overall superior travel experience for passengers,” said Robert Deluce, president and CEO of PAHI. “We will work closely with its management team over the next few months to ensure a seamless transition. This transaction further strengthens our core business with Porter Airlines and positions the company for continuing growth and success.”PAHI operated terminal facilities at BBTCA through its subsidiary, City Centre Terminal Corporation (CCTC), which constructed the terminal in 2010. Porter Airlines will maintain and enhance its service at the airport in coming years.Nieuport Aviation comprises InstarAGF Asset Management Inc. (InstarAGF), Kilmer Van Nostrand Co. Limited, Partners Group, and institutional investors advised by J.P. Morgan Asset Management.BBTCA is the ninth busiest airport in Canada, serving 2.4 million passengers in 2014. The airport generates approximately $1.9 billion in total annual economic impact and supports approximately 5,700 direct and indirect jobs.The sale price of the terminal remains undisclosed.

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