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Porter Airlines going public.

rafterman

A sadder and a wiser man
Feb 15, 2004
3,423
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Good niche player but airline sector has been a disaster for investors long term.

Porter Airlines poised for IPO
Brent Jang
15:05 EST Friday, Apr 16, 2010

Porter Airlines Inc. is planning an initial public offering less than four years after it launched operations at Toronto's island airport near the downtown business core.

The regional carrier, through Porter Aviation Holdings Inc., has submitted a preliminary prospectus for the IPO.

“No existing Porter shareholders will sell shares in the initial public offering,” the Toronto-based airline said in a statement Friday.

“The underwriting syndicate is led by RBC Capital Markets Inc. and also includes National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., GMP Securities L.P., Credit Suisse Securities (Canada) Inc., Raymond James Ltd. and Versant Partners Inc.”

Porter began flights at Billy Bishop Toronto City Airport in October, 2006.

“Porter intends to use the net proceeds of the proposed offering for working capital and other general corporate purposes, including potential acquisition of aircraft,” said the carrier, which will be adding two more Bombardier Q400 turboprops this month to boost its fleet to 20 of the planes.

The airline launched with just two Q400s, flying between Ottawa and Toronto. Its other destinations now include Montreal, Quebec City, Halifax, St. John's, Thunder Bay, Sudbury, New York (Newark), Chicago (Midway) and Boston (Logan), as well as seasonal service to Mt. Tremblant, Que., and Myrtle Beach, S.C.

Flights to Moncton start June 25.
 

hinz

New member
Nov 27, 2006
5,672
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Won't touch any airline stocks with a ten foot pole. :rolleyes:

BTW, the only industries that rival to airlines when it comes to value destruction are automobile and lumber. Again won't touch both industries stocks with ten foot poles.

Unless you want to gamble and you believe the odds are better than say in Las Vegas.
 

danmand

Well-known member
Nov 28, 2003
46,353
4,776
113
I did not buy Air Canada when it had its IPO, and I will not buy porter.
 

Rockslinger

Banned
Apr 24, 2005
32,783
0
0
Won't touch any airline stocks with a ten foot pole.
Agreed. The only airline stock I would touch are those that transport stuff and not humans. 3 major problems with airlines.
1) They don't control fuel prices.
2) They don't control the weather.
3) They can't control their human passengers (because human rights).
 

fmahovalich

Active member
Aug 21, 2009
7,255
13
38
One thing to consider.

David MILLER is out in toronto....

That means the bridge to the island is back on the table...

And if thats the case......its a great buy...
 

Rockslinger

Banned
Apr 24, 2005
32,783
0
0
David MILLER is out in toronto....
That means the bridge to the island is back on the table...
Always do the opposite of what Miller and/or the "Islanders" support. Also, don't piss away $42 million on a stupid facelift for Nathan Phillips Square. Does anybody actually go to that square?
 

hinz

New member
Nov 27, 2006
5,672
1
0
Agreed. The only airline stock I would touch are those that transport stuff and not humans. 3 major problems with airlines.
1) They don't control fuel prices.
2) They don't control the weather.
3) They can't control their human passengers (because human rights).
You forget the "legacy" cost, aka pension shortfalls/Liabilities for flight attendants and pilots before many become insolvent. Many of those plans are DB and by now we know other than the DB plan in governments (due to taxpayers money matching), many in the private enterprises are unsustainable.

BTW, if you have any inclination to insult a female flight attendant for whatever reason, try to call her waitress with wings....:rolleyes:
 

hinz

New member
Nov 27, 2006
5,672
1
0
Always do the opposite of what Miller and/or the "Islanders" support. Also, don't piss away $42 million on a stupid facelift for Nathan Phillips Square. Does anybody actually go to that square?
Would that be a surprise? Toronto was run to the ground by a bunch of lefties (communists in the closet) for decades. :rolleyes:
 

rafterman

A sadder and a wiser man
Feb 15, 2004
3,423
77
48
Doesn't Porter just fly turbo props, believe it's the Bombardier Q - 400, and if so won't AC fly RJ, i.e. twin engine regional jet? Probably not a huge difference in time over their shorter routes but given a choice I would take the jet vs. the turbo prop.

By the way another thing the airlines can't control......volcanic eruptions ha ha ha.....apparently costing the industry up to $200 million per day.
 
Ashley Madison
Toronto Escorts