Porter Airlines has announced the completion of a sale and leaseback transaction with GOAL Aircraft Leasing for two Embraer E195-E2 aircraft, which will continue to be operated by the carrier under long-term lease agreements.
On Tuesday (January 7, 2025), Porter Airlines announced the completion of sale and leaseback agreements with GOAL Aircraft leasing for two Embraer E195-E2s. The aircraft will continue to be operated by the carrier under long-term lease agreements, with the transaction enabling Porter to leverage the operational efficiencies of the next-generation E195-E2 jets while optimizing their capital allocation. The two aircraft are part of the growing portfolio of KGAL’s APF5 fund and reflect the asset manager’s commitment to creating more value for their airline partners and institutional investors.
In Tuesday’s announcement, Porter Airlines’ VP – Corporate Development, Julian Low, said,
“The Embraer E195-E2 is an exceptional aircraft and it is driving the growth of our network across North America. There continues to be strong interest from the leasing community in the E195-E2 and we look forward to working with GOAL over the long term.”
Also commenting on the sale and leaseback transactions, GOAL Aircraft Leasing’s Managing Director, Christian Schloemann, added,
“We are excited to deepen our relationship with Porter Airlines and demonstrate our ability to offer flexible and competitive leasing solutions for cutting-edge aircraft like the Embraer E195-E2. We are proud to support Porter Airlines in expanding their fleet and strengthening their position as a leading airline in North America.”
London-based Watson Farley & Williams acted as lead counsel to GOAL, and Par Brown Gee & Loveless acted as lead counsel tom Porter, while Seabury Securities LLC acted as advisor and placement agent to Porter.
GOAL Aircraft Leasing is a joint KGAL GmbH & Co. KG, one of Germany’s leading independent investment and asset managers with an investment volume of nearly €16.0 billion and Deutsche Lufthansa AG. Currently, GOAL owns and manages 68 aircraft with an investment value of approximately US $3.0 billion.
Founded in 2006, Porter Airlines is an Official 4 Star Airline® in the World Airline Star Rating® and is committed to providing a warm and effortless approach to hospitality, restoring glamour and refinement to air travel. The carrier is headquartered in Toronto, and offers an extensive domestic Canadian and North American network. Porter Airlines currently operates a fleet of De Havilland Aircraft of Canada (DHC) Dash 8-400s and new Embraer E195-E2 jets.
Source: Porter Airlines