Porter Aviation Holdings Inc. and Macquarie Asset Management, the consortium backing an airport overhaul in the Montreal area, has secured a $90 million loan for the project from the Canadian Infrastructure Bank.
The newly-renamed Montreal Metropolitan Airport or MET -- formerly Montreal Saint-Hubert airport -- will grow from a small local airport to a commercial aviation hub, similar to Toronto’s Billy Bishop, which Porter has used since 2006 to create a sizeable regional network. The airport is located in Saint-Hubert, about 14 kilometres south of Montreal’s downtown.
The owner of Porter Airlines and the subsidiary of Australia’s biggest investment bank broke ground in August, 2023 for a new terminal that will serve up to four million passengers a year and provide another venue for the fast-growing Porter in Canada's second-biggest city.
Porter has built a sizeable regional network at Billy Bishop Toronto City Airport. (Photo Credit: Porter Airlines)
Porter says it will continue expanding its existing operations at Montréal’s Trudeau Airport (YUL), while also introducing a domestic network based at MET, with the airport code YHU. The small airport has a long history, dating back to 1927.
Total investment in the airport will top $200 million. Completion of a 21,000-square-metre (225,000 square foot) facility, with nine bridged aircraft gates, has been pushed back to fall 2025, from its original plan of late this year.
A Crown corporation, the Canadian Infrastructure Bank is designed to support revenue-generating projects deemed in the public interest.
Michael Deluce, Porter Airlines (Photo Credit: Michael Deluce, Porter Airlines)
“Saint-Hubert has incredible potential as a complementary secondary airport for Montréal, with a convenient location for a significant portion of the local market and also easy access to downtown Montréal,” said Michael Deluce, president and CEO, Porter Aviation Holdings, when the deal was announced in February 2023.
“We have proven this concept at Billy Bishop, now one of the world’s best urban airports, and look forward to working with our partners at Saint-Hubert to help create a similar success story.”
Porter estimates its investment in YHU will result in more than 500 permanent jobs, including in-terminal and operations positions, along with a new pilot and flight attendant crew base.
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