And the failed IPO is exactly why the terminal is for sale. OMERS and Edgestone, Porter's owners want ROI, their boards and shareholders demand it. If they can't get ROI through the stock market because no one sees value in Porter, then they must begin liquidating assets. First to go will be anything not directly involved in flying aircraft, so obvious choice is the terminal. However that won't satisfy the investor owners for long, so you can expect to see landing slots sold to Air Canada or West Jet.
Next, now that it is appearing unlikely that the jets are coming (which OMERS and Edgestone desperately need if they hope to re-attempt their IPO and get their money out), options to buy further six Q400s will be cancelled. Basically anything that can at least temporarily fill the need for ROI will be attempted. Expect payroll and staffing to be hit too.