TORONTO - Air Canada and U.S. carrier Continental Airlines have been granted initial approval to fly into and out of Toronto's Island Airport.
The Toronto Port Authority says an independent consulting firm has recommended allocating 44 of 90 available slots to privately-owned Porter Airlines, the only existing carrier at the Billy Bishop Toronto City Airport.
Airport Co-ordination Ltd., the British consulting firm hired to help with the assessment, also recommended giving 30 slots to Air Canada and 16 to Continental (NYSE:CAL), a major U.S. carrier based in Houston.
The new carriers will be required to sign a formal deal with the port authority before they can use the airport.
The carriers are expected to use the island airport once a new $50-million terminal is completed at the end of this year.
