Porter secures financing for up to 19 Embraer E195-E2 aircraft

Porter Aviation Holdings Inc. (PAHI), the parent company of Porter Airlines, has secured financing from the Brazilian Development Bank (BNDES) for up to 19 Embraer E195-E2 aircraft.

The financing is backed by Export Credit Insurance from Brazil’s Export Credit Guarantee Fund (FGE), managed by the Brazilian Agency for Guarantee Funds and Guarantees (ABGF).

The aircraft are part of Porter’s firm order for 75 E2s, 54 of which have already been delivered. 

The financing will be available for aircraft delivered between now and December 2030.

Porter introduced the E2 to its fleet in 2023 and has since expanded its network across Canada, the United States, Latin America and the Caribbean.

The aircraft features a two-by-two cabin configuration with no middle seats. 

Porter also offers complimentary beer and wine served in glassware and free Wi-Fi to all passengers.

“Porter is one of the fastest-growing airlines in North America, with our E2 fleet playing a fundamental role in introducing the airline to millions of new passengers in recent years,” said Rob Palmer, executive vice president and CFO of Porter Airlines. 

“This represents a great milestone for Porter, successfully securing financing for the majority of our remaining firm E2 order. Having BNDES and ABGF as partners at this stage demonstrates that our business plan is progressing well, with many more E2 deliveries to come.”

Three aircraft in Porter’s current fleet of 54 E2s have already received support from BNDES.

“BNDES plays an important role in supporting the diversification of Embraer customers in the North American aviation sector, with an aircraft model that uses more advanced technologies and has a lower environmental impact,” said Aloizio Mercadante, president of BNDES.

"Porter is one of the largest operators of E2 jets in the world and a benchmark in passenger experience in the competitive North American market. It is a great satisfaction to see this customer's fleet growth and to be able to connect more people with our aircraft, in addition to celebrating the solid partnership with BNDES in supporting our exports," added Felipe Santana, executive vice-president of financial and investor relations at Embraer.

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