Porter Aviation Holdings Inc.’s (Porter) wholly-owned subsidiary, Porter Aircraft Leasing Corp., has entered into sale and leaseback financing agreements for four Pratt & Whitney PW1921G engines with Avolon, the international aircraft leasing company. Porter is expected to receive the engines in 2025 and 2026, as part of its ongoing Embraer E195-E2 aircraft deliveries.

Porter currently has a firm order of 75 Embraer E195-E2 aircraft and 25 purchase rights, which makes the airline one of the largest E2 customers in the world. The airline has currently taken delivery of 43 E195-E2s, which are being operated by Porter Airlines (Canada) Limited throughout North America.

“The GTF-powered E195-E2 is the right choice for Porter and our passengers. GTF engines help make this aircraft the quietest, most efficient, most sustainable single-aisle jet available today,” said Julian Low, vice president, corporate development, Porter Airlines. “We value Avolon’s expertise and partnering with them demonstrates the continued confidence in Porter’s growth plan and our ability to expand our network across North America.”

“Avolon is delighted to be partnering with Porter on this transaction, building on the relationship we have developed since we collaborated on previous aircraft sale and leaseback transactions,” said Steven Graham, Head of Americas, Europe and OEM, Avolon. “These GTF engines will provide the certainty to support Porter as it continues to execute on its exciting growth plans for the region.”

Parr Brown Gee & Loveless acted as lead counsel to Porter. Seabury Securities LLC acted as advisor and placement agent to Porter.

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