Even though Porter’s looking to sell the Toronto Island terminal, a senior executive says they’re still looking to use it.

Michael Deluce says a sale lease-back is going to allow Porter Aviation Holdings to really focus on the airline business, adding proceeds would help invest in growth opportunities.

He would not confirm that they expect to get at least $500-million, a figure cited by the Wall Street Journal, which broke the story, calling that merely ”speculation.”

Deluce also says this is not linked in any way with Porter’s controversial plans to expand the airport and to possibly fly jets.