The last thing Porter should be trying to do is to complete on price with Rouge or any airline / route operating with newer 170+ seat airframes or fully depreciated 130 seat airframes.

The economics are completely apples and orange and a battle Porter cannot win with high cost 132 seat aircraft operating with industry low utilization.

Porter can keep going as long as they keep adding airframes and pocketing the C$8m they are telling Wall St are the proceeds from each of the sale / leaseback financings.

Those funds will underwrite all kinds of
losses for a finite period.

Eventually the deliveries slow down / stop, maintenance holidays end, the cash disappears and the operation has to stand on its own legs.