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Porter going public via IPO


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:wink_smile:

You seem to be reading much more into this. I do not recall saying what WS has accomplished was easy or that anyone could do it. I believe I said the timing for WestJets startup and the failure of other established Canadian airlines was a factor in their success. You have mentioned others who have tried and failed. That is my point. WS was unique in that it survived to become a success.

Relax.

bd B)

And my point is that besides DGN, there are at least a couple other WJ founders who have been involved with other LCC start ups.

:wink_smile:

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  • 3 weeks later...
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Gotta finance those industry leading losses somehow.....

With competition arriving before years end, the run rate is going to start to get beyond ugly pretty quickly.

Isn't it interesting that the two worst performing airlines in North America both have Don Carty on their BoD's? Both have similar customer service philosophies. Both lose gobs of money.

The latest batch of T100's will be out soon. We'll see how Porter are doing south of the border, (assuming they provided the US authorities their numbers).

:cool:

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"Porter's balance sheet is in pretty good shape, and the fact of the matter is, there is debt financing, there is aircraft financing, there is lease financing, so there are lots of options," he said. "And, of course, we can look at another round, if we want, of the existing partners adding some equity to the balance sheet if needed."

Wow! Once more into the breech for those initial stakeholders? I'm thinking that might be met with a rather lukewarm response...Scratch-Head.gif

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WOW!....has Porter thrown out their client first at all cost philosophy they've won so many accolades? Oh yah, it costs money to put these people up in a hotel room.

Money trumps good service, at least in Porters case.

Weekend weather creates havoc for Porter fliers

http://www.thestar.com/article/830472--byers-weekend-weather-creates-havoc-for-porter-fliers

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For Immediate Release

Porter's Balance Sheet NOT in "Pretty Good Shape"

Porter's March 31 balance sheet, disclosed in Porter's Prospectus released May 21, reveals that a working capital deficit of $11,846,000 as of December 31, 2009) deteriorated to $33,467,000 as of March 31, 2010.

And net income of $455,000 in Q4, 2009, slid in Q1 2010 to an operating loss of $5,972,000 in Q1 2010. That loss over three months is $1,363,000 greater than the total loss for all of 2009.

Porter's accumulated deficit, as at March 31, was $44,505,000.

That's not "pretty good shape", as Porter’s Don Carty stated this week.

According to that document, Porter’s load factor (percentage of seats filled) dropped in Q1 2010 to 47% from 50.2 % in Q4 2009. The Q1 load factor dropped slightly below the total 2009 figure of 47.9%. Still flying with more than half its seats empty.

Notwithstanding all that marketing, they’ve solidly demonstrated that the market out of the Island Airport is just not big enough to support a viable airline.

That's a business in sore need of more capital, quickly. Or its days are numbered.

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WOW!....has Porter thrown out their client first at all cost philosophy they've won so many accolades?  Oh yah, it costs money to put these people up in a hotel room.

Money trumps good service, at least in Porters case.

Weekend weather creates havoc for Porter fliers

http://www.thestar.c...r-porter-fliers

I guess they don't have a 'Care antee'  westjet.com/careantee which covers hotels for weather as well.

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Gotta finance those industry leading losses somehow.....

With competition arriving before years end, the run rate is going to start to get beyond ugly pretty quickly.

Isn't it interesting that the two worst performing airlines in North America both have Don Carty on their BoD's? Both have similar customer service philosophies. Both lose gobs of money.

The latest batch of T100's will be out soon. We'll see how Porter are doing south of the border, (assuming they provided the US authorities their numbers).

cool26.gif

Hmmmm.....Porter needing money and running out of time to get its act together by year end?

If Moses isn't coming down from Mt Sinai, then maybe Branson and Deluce will hot air balloon their way to the top of the mountain.

Now wouldn't that be a match made in heaven.....Virgin as the mainline and Porter as the regional feeder. Now. which is likely to go belly up first?

The real question is who has the bigger ego....Branson or Deluce? Can Branson claim that he's flown the queen on one of his budget airlines?

Bob may have the edge in pushing both Branson and Moses off the mountain. However, they dare not ask Bob for a hotel voucher for being displaced off the mountain through no fault of their own.

smile.gif

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