Porter Airlines here to stay?

It's dire times in the airline industry again as the recession has hit travel Air Canada recently reported a huge loss and there are concerns it could again file for bankruptcy protection.

Meanwhile, on Toronto's waterfront, we have smaller Porter Airlines. A report in Airwise says the airline, which flies out from the island airport to such cities as New York and Ottawa, expects to weather the recession. Here's an excerpt from the story

"In spite of the economy and in spite of the downturn within the industry itself, Porter is actually doing quite well and continuing to thrive," said Deluce, former president of defunct airline Canada 3000.

Porter has two points working for it -- convenience and low operating costs -- said Jacques Kavafian, an airline industry analyst at Research Capital.

Porter is the only airline that flies out of Toronto's City Centre Airport, minutes away from the city's financial district. Its rivals fly out of Pearson International, up to an hour's drive northwest of downtown Toronto.