Billy Bishop Airport's Response To COVID-19 Impact On Airport Sector
Why a private sector investor may be the answer.
1 min read
PortsToronto, the owners of Billy Bishop Toronto City Airport, seek a private sector investor for airport operations under a lease agreement. The request was a response to the impacts that COVID-19 has had on the airport industry since March 2020. The airport’s primary operator, Porter Airlines, has halted operations until mid-May of this year, a leading cause of the debt rise.
CEO Geoffrey Wilson stated, “The last year has had a profound impact on many businesses and has necessitated innovative approaches to overcome the challenges at present and in future. We believe that undertaking a process now that may provide options for PortsToronto to secure a financial investor will enable the airport to come out of the COVID-19 crisis stronger.”
The ideal investor would be committed to the growth and rehabilitation of the airport both now and well into the future, focusing on making it one of the most sustainable and quietest airports in the world.
Learn more about what this could mean for the future of Billy Bishop Toronto City Airport.
Reference
Press, The Canadian. (2021, March 30). Owner of Billy Bishop airport looking for private sector investor, operator [Web log post]. Retrieved April 16, 2021, from https://www.thestar.com/business/2021/03/30/owner-of-billy-bishop-airport-looking-for-private-sector-investor-operator.html
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