TORONTO — Porter Aircraft Leasing Corp., a wholly-owned subsidiary of Porter Aviation Holdings Inc., has agreed to sale and leaseback financing with Avolon for 10 Embraer E195-E2 aircraft.

These aircraft will begin deliveries later in 2023 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. Eleven E195-E2s are flying with Porter today.

“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. This means treating everyone with care and offering complimentary amenities like WiFi, and beer and wine served in glassware throughout the cabin,” said Jeffrey Brown, Executive VP and CFO, Porter. “We are excited to partner with Avolon and value their reputation and expertise in aircraft leasing, which makes them an ideal new partner.”

Porter is currently operating the E195-E2 on routes from coast-to-coast in Canada. Porter is continuing with its expansion plans, first announced back in July 2021, that will build out its North American network with the addition of more destinations in Canada, the U.S., Mexico and Caribbean.