DarnDirtyApe said:
I would be surprised if this wasn't covered earlier in the thread! They tried twice (in 2010 and 2011) but suspended plans both times due to "market conditions". That is code for "our investment bankers couldn't find enough people to buy into this turd of a deal at the price we want".

The 2010 prospectus is here: http://www.nojetsto.ca/wp-content/uploads/2013/11/Porter_Airlines_IPO_Prospectus_2010-05-21.pdf

You can see that Porter lost money every single year that they were in operation. Maybe things have changed since then, but Porter doesn't have to make it's books public so we can't know either way. Maybe they just don't need the money any more, particularly given the terminal sale.
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Porter posted a profit in 2011 and 2012. No idea if it's changed since then though
 
Here is another personal observation that is likely as useful/less as all the rest.....

...just got off the ferry that left YTZ at 9pm......i have never seen the thing as jam packed in the years that I have been flying off of the island. not a square inch of unused space (couldn't see back to tell if everyone fit or if they left folks behind).

Obviously not all of those people were Porter customers......19 people and me came in on the Air Canada flight.

Interesting side observation.....shuttle bus is only about half full.....line up for cabs was massive when we left.
 
PinkLucy said:
If you're willing to jump on a streetcar and go to Union, why wouldn't you be willing to transfer to the 509 and go to Porter that way? Faster than taking the train out to Pearson.
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My Dad is a businessman who frequently uses Porter. He takes the GO Train from Oakville, then the 509 to Porter. He loves that combo because its cheaper than a limo, and he can sit back and relax, and avoid traffic while getting to the airport.
 
alexanderglista said:
My Dad is a businessman who frequently uses Porter. He takes the GO Train from Oakville, then the 509 to Porter. He loves that combo because its cheaper than a limo, and he can sit back and relax, and avoid traffic while getting to the airport.
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yep....and even cheaper if you take the free shuttle rather than the streetcar ;)
 
The CS300 has its first test flight next week.....I don't recall if Porter was looking at these or just the CS100
 
Speaking of the C-Series, lots of negative press about Bombardier over the past few weeks.

Outflanked and outmuscled: Bombardier Inc’s uphill climb against competitors with much deeper pockets
Today, Bombardier finds itself at a disadvantage compared to its chief rivals — Boeing Co., Airbus Group and Embraer SA — because of two major obstacles.

The first, and biggest, is its balance sheet. On Thursday, Bombardier suspended its dividend and announced that it will raise up to US$2.1 billion in debt and equity. The moves are an attempt to address concerns about the company’s liquidity, as it burns through cash to develop the CSeries and a new generation of Global business jets. (A third project, the Learjet 85, was suspended in January.)

“I think one of the questions in the mind of some of the buyers is, are they going to make it?†said Mr. Jeanniot, who was CEO of Air Canada from 1984-1990 and head of the International Air Transport Association from 1993-2002.

“They don’t want to be left with an orphan, somebody that produces a few airplanes and then abandons the project.â€
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Not a good sign for Porter's plans. They won't wanna be one of the only C-series operators.
 
couple of February developments at Porter that I missed (and may have been missed here)....they have added Charlston SC as a destination and they have rolled out 31 destinations across North America as part of their code share with Jet Blue they signed in November. So, connecting through Logan, their network is a lot bigger than it was.
 
diminutive said:
Speaking of the C-Series, lots of negative press about Bombardier over the past few weeks.

Outflanked and outmuscled: Bombardier Inc’s uphill climb against competitors with much deeper pockets


Not a good sign for Porter's plans. They won't wanna be one of the only C-series operators.
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the 405 planes ordered (243 firm orders and 162 options) cover 13 airlines.....3 leasing companies who have not identified who they are leasing on behalf of (ie. could be one each or multiple carriers ) and 2 buyers with small orders who's names have not been disclosed. The order book is not what they wanted (they targetted 300 firm orders by the in service date so with a few months to go they are 57 shy of target) but no one appears to be at risk of being totally isolated.
 
ksun said:
three years for such a small project. Impressive!
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You say the same thing about every construction project, no matter how invalid your armchair critiques may be. Maybe you should become a construction manager, since you seen to know better than everyone else how to build stuff fast.
 
salsa said:
You say the same thing about every construction project, no matter how invalid your armchair critiques may be. Maybe you should become a construction manager, since you seen to know better than everyone else how to build stuff fast.
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Well said!!!
 
salsa said:
You say the same thing about every construction project, no matter how invalid your armchair critiques may be. Maybe you should become a construction manager, since you seen to know better than everyone else how to build stuff fast.
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are you saying this is not extremely slow? Take a look at larger tunnels elsewhere and how long it took. Fantastic incompetence and inefficiency.
 
ksun said:
are you saying this is not extremely slow? Take a look at larger tunnels elsewhere and how long it took. Fantastic incompetence and inefficiency.
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While I agree this is taking a long time, for you to make a claim of "incompetence and inefficiency" is irresponsible, if not libellous. That is, unless you have some inside information? If so, out with it!
 
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