Porter Confirms Sale and Leaseback of 10 New Embraer Jets

Porter Airlines E195-E2 Embraer

Porter has agreed to sell and leaseback 10 Embraer E195-E2 aircraft, the airline has revealed.

The aircraft will begin to be delivered later this year, and be operated by Porter Airlines as part of a previously-announced confirmed order for 50 E195-E2s and the option to purchase 50 additional aircraft.

The deal is with global aircraft leasing company Avolon through Porter's leasing subsidiary.

Jeffrey Brown, executive vice president and chief financial officer, Porter said in a statement, “We are excited to partner with Avolon and value their reputation and expertise in aircraft leasing, which makes them an ideal new partner.

“The E2 is an incredible addition to Porter’s fleet, offering best-in-class seat cost economics and providing an ideal platform to deliver the truly differentiated in-flight economy passenger experience that Porter is known for."

Eleven E195-E2s are flying with Porter today. The airline is currently operating the E195-E2 on routes across Canada. With the new and ongoing deliveries, Porter is developing a North American network including destinations in the U.S., Mexico and Caribbean.

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