Toronto-based regional carrier, Porter Airlines has stated it will reach a decision on whether or not to list before the end of the first half of this year. In June last year, Porter put its plans for an initial public offer on hold due to market volatility. It has planned to raise as much as $120 million.
“Probably before the end of the first half, we will come to a conclusion as to whether to relaunch with the IPO or seek a private equity investment,” chief executive Robert Deluce. “Even that is not a given, we may do neither.”
Porter’s February load factor rose by 4.1 points to 50.6% in February, while available seat miles rose by 18.5%. The improvement comes despite increased capacity and a traditionally slow period for travel.