- REGCO Holdings
REGCO Holdings Inc. is a Canadian company planning to operate
Porter Airlinesfrom the Toronto City Centre Airport. Regco CEO and President Robert Deluceannounced on 1 February 2006that it has placed a firm order for ten Bombardier AerospaceQ400s, to be built at the Bombardier Downsview plant in Toronto. Service should begin in the fall of 2006.
The company was founded in 1999.
REGCO Holdings Inc. is controlled by :
*Robert Deluce (whose brother Peter Deluce ran
Canada 3000until its demise in late 2001)
*Larry Tanenbaum - part owner of
Maple Leaf Sports and Entertainment
Investors:$125 million CAD has been put into the airline including money from:
*EdgeStone Capital Partners
*Borealis Infrastructure - the investment arm of the
Ontario Municipal Employees Retirement System(OMERS).
* [http://www.citycentreaviation.com City Centre Aviation Ltd.] - Toronto City Centre airport facilities
The contract was signed with the
Toronto Port Authority, a Crown Agency that manages the Toronto Island Airport along with all Government of Canada owned portlands.
On Feb. 15th
Air Canadahad announced that its contract to operate its Jazz Airline service out of a terminal at the airport had been terminated. The terminal due to be renovated is owned by REGCO Holdings, and is operated under the name of City Centre Aviation Ltd.
On Feb. 27th, REGCO was able to evict Air Canada Jazz from the publicly owned airport. The airline lost an Ontario Superior Court ruling. This will give Porter Airlines exclusive rights over the terminal buildings.
In 2006 REGCO fully owned subsidiary: 'City Centre Aviation' commenced renovations of the
Toronto City Centre Airport. The terminal will service their new airline Porter Airlines.
*" [http://www.eye.net/eye/issue/issue_10.24.02/news/airport.html Restrictive runway] : Does anyone know whether Q400s can take off from the island airport?" Lorinc, John.
Eye Weekly, 24 October 2005.
*ctv.ca: [http://toronto.ctv.ca/servlet/an/local/CTVNews/20060201/island_airline_060201/20060201?hub=TorontoHome Regco orders planes]
*Bombardier Aerospace [http://www.bombardier.com/index.jsp?id=3_0&lang=en&file=/en/3_0/pressreleaselist.jsp%3Fgroup%3D3_0%26lan%3Den%26action%3Dview%~EdgeStone Capital Partners~:
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