This is X bought Y, I’m [Matt Croydon](http://twitter.com/mc). Today is Tuesday January 27th. Today the passenger terminal of the smaller of Toronto’s two biggest airports changed hands. Nieuport Aviation Infrastructure bought the terminal at [Billy Bishop Toronto City Airport](http://www.portstoronto.com/airport.aspx). Nieuport is a consortium of fund managers and private equity folks. They bought it from Porter Aviation Holdings, Inc. for an undisclosed bunch of money. Porter is selling off the terminal so that it can focus on running an airline, which seems like a smart thing to do if you’re an airline. I think it’s a shrewd move by Nieuport too: the location is way closer to downtown than the larger Pearson International Airport so it is well positioned for lots of business aviation. It carries a bunch of airline passengers too, 2.4 million people in total in 2014. Seems like a solid bet to me. Find out more at xboughty.com or follow us on Twitter, [@xboughty](http://twitter.com/xboughty).