27-May-2010 12:26 PM

Porter Aviation Holdings' 1Q2010 net loss narrows to USD6 million

Porter Aviation Holdings, parent of Porter Airlines, reported a net loss of USD6 million in the first three months of 2010, an improvement from a net loss of USD9.4 million in the previous corresponding period (Financial Post, 26-May-2010). The carrier reported a load factor of 47%, just short of its break even load factor of 49%. Porter Aviation postponed its USD120 million IPO, scheduled last week, to after the release of its financial results.