Aircraft leasing company Avolon has signed a sale and leaseback agreement with Porter Airlines for 10 new Embraer E-195-E2 aircraft.
The deal, valued at $841.2 million, will support Porter’s expansion of routes in Canada and North America. It also marks the first time Embraer’s advanced E2 aircraft will join Avolon’s fleet.
The E195-E2 is designed for efficiency, with 25% lower carbon emissions and fuel burn compared to previous models. Porter plans to expand its fleet with 50 firm orders and an option for 50 more E2 aircraft, which will offer passengers a comfortable 132-seat configuration.
Avolon’s decision to add the E2 to its portfolio diversifies its offerings and aligns with its goal of having 75% new technology aircraft by 2025.