July 17, 2008

Porter Airlines Exercises Further Options for Two Bombardier Q400s

Porter Airlines is exercising two existing options for Bombardier Q400 aircraft. These represent the 13th and 14th aircraft in the Porter fleet from an original order of 10 firm and 10 options.

The two aircraft are valued at approximately $52 million based on list prices. Six Q400s are delivered and are currently in service.

Within one year, the fleet is expected to double in size to 12 aircraft, and the full order of 20 is expected to be delivered in less than two years.

Robert Deluce, president and CEO of Porter Airlines, said: "Porter is continuing its steady, successful growth curve with the confirmation of this order. We have been able to maintain a full level of customer service while adding aircraft, employees and destinations at a time when many carriers are making difficult decisions about the future."