REGCO Holdings

REGCO Holdings

REGCO Holdings Inc. is a Canadian company planning to operate Porter Airlines from the Toronto City Centre Airport. Regco CEO and President Robert Deluce announced on 1 February 2006 that it has placed a firm order for ten Bombardier Aerospace Q400s, to be built at the Bombardier Downsview plant in Toronto. Service should begin in the fall of 2006.

Ownership

The company was founded in 1999.

REGCO Holdings Inc. is controlled by :
*Robert Deluce (whose brother Peter Deluce ran Canada 3000 until 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).

Holdings

* [http://www.citycentreaviation.com City Centre Aviation Ltd.] - Toronto City Centre airport facilities
*Porter Airlines

Current operations

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 Canada had 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.

External links

*" [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~:
*http://www.edgestone.com


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