Porter Aviation Holdings Inc. has completed the sale of its passenger terminal at Billy Bishop Toronto City Airport to Nieuport Aviation Infrastructure Partners GP, a consortium of Canadian and international infrastructure equity investors. The sale price was not disclosed.
“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 & CEO, Porter Aviation Holdings Inc. “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.”
“The terminal is a premier essential transportation infrastructure asset with an established operating history, robust contractual framework and positive long-term outlook,” said Gregory Smith, President & CEO, InstarAGF, one of the partners in Nieuport Aviation. “Studies show that travellers overwhelmingly choose Billy Bishop Toronto City Airport because of its convenience, efficiency and high service standards. With a focus on sustaining and elevating the passenger experience at the terminal, we look forward to building strong relationships with all stakeholders at BBTCA and to supporting its further development as a vital gateway for commerce and economic growth in the greater Toronto region.”
YTZ is the 9th busiest airport in Canada, serving 2.4 million pax in 2014. The terminal was constructed by City Centre Terminal Corp. in 2010.