On April 16, 2010, the regional carrier Porter Airlines Inc. announced that it will embark on a C$120 million initial public offering. The company intends to use the net proceeds from the offering for working capital and for other general corporate purposes, which may include acquisitions of aircraft.
Porter Airlines operates commercial flights from its headquarters at Billy Bishop Toronto City Airport, located on Toronto Island.
Further information is found in The Globe and Mail's Investor and Streetwise columns.