Image Taken from: http://havebabywilltravel.com/Blog/2009/07/13/flying-porter-with-a-baby/
Main Article: Jang, Brent. “Porter pulls IPO after tepid response .” The Globe and Mail 01 Jun 2010, 03 Oct 2010 Web.
For those who are unfamiliar with Porter Airlines, it is a small, fairly new airline company based out of T0ronto’s Island Airport, near the downtown core of the city.
The company has had some financial hardship over the years, being in debt millions of dollars, however the company is experiencing a minor upswing.
Porter was previously looking to make an initial public offering (IPO) to raise funds to pay off the debts, as well as expand their business. Unfortunately though, due to instability in the markets, the company is postponing this to a later date.
This is not a good time for this postponement either though. Air Canada Jazz is planning on expanding into the Toronto City Centre Airport, which will only cause more financial hardship for Porter.
I personally believe that the company should make an IPO as soon as possible! They must finance their debts now, before the major competition comes in to play. The company must expand its business before another, very “well off” company takes over the market. Porter should establish its brand, expand its market, and build a better foundation for the future!
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