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Bombardier Inc
Symbol BBD
Shares Issued 1,441,114,241
Close 2013-05-09 C$ 4.47
Market Cap C$ 6,441,780,657
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Globe says Porter keeps hopes alive for Bombardier jets

2013-05-09 07:10 ET - In the News

The Globe and Mail reports in its Thursday edition the Toronto Port Authority has agreed to pick up the tab for phase one of a city report into the Porter Airlines expansion plan. The Globe's Sunny Dhillon writes, however, the agency that owns and operates Billy Bishop Airport will not yet commit to phase two. City council voted on Tuesday night to have staff compile the report. Porter wants to buy Bombardier jet aircraft and extend the runway at the island airport. Staff had recommended Porter pay for phase one of the report, due in July, and that Porter and the Toronto Port Authority pay for phase two, expected in the fall. Councillor Pam McConnell questioned the ethics of Porter funding a report it requested and moved a motion putting the onus for both phases on the port authority. Pamela McDonald, a port authority spokesman, told The Globe the agency has "agreed to pay reasonable costs for phase one." When asked about phase two, Ms. McDonald said the focus at the moment is on working quickly and efficiently with the city on the first phase. She said the port authority will recover its costs through airport operations. The preliminary report will cost between $225,000 and $275,000.

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