Porter Aviation Holdings Inc. has sold its passenger terminal at Billy Bishop airport in Toronto, but the sale is not expected to affect passenger service.
Porter sold the terminal to Nieuport Aviation Infrastructure Partners GP, a consortium of Canadian and international infrastructure equity investors. The sale price of the terminal is undisclosed.
Nieuport Aviation comprises InstarAGF Asset Management Inc., Kilmer Van Nostrand Co. Ltd., Partners Group, and institutional investors advised by J.P. Morgan Asset Management. Nieuport Aviation encompasses long-term infrastructure owners and operators with a deep local presence, significant international expertise in managing aviation infrastructure, and a commitment to world-class client service.
Porter operated terminal facilities at Billy Bishop through its subsidiary, City Centre Terminal Corp. Porter Airlines Inc., another PAHI subsidiary, will maintain and enhance its service at the airport in coming years, according to a news release.
“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 Porter Aviation, in the release. “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.”
Amongst an array of destinations in Canada and the U.S., Porter Airlines offers passenger service from the Northern Ontario locations of Thunder Bay, Sault Ste. Marie, Sudbury, and Timmins.
