Still no definitive decision from Toronto City Council yesterday, though at a closed door meeting the following interim step appears to have been approved.
http://makeashorterlink.com/?Q21412892

It appears that in exchange for the Ports Authority [who own the Island Airport and the land it sits on] to drop their $1 billion suit against the city, Council will approve the building of a bridge to the island [airport]. This will pave the way to expanding flight slots, permitting the proposed new airline to start up its operations after building a new terminal building.

Dropped by City Hall in the late afternoon yesterday [paying my taxes] and couldn't miss the throngs of people wearing "Toronto Island Airport GO" buttons. A few were in JAZZ FA uniforms. Must have been at least 50 or 60 souls.