Porter Aviation Holdings Inc. (Porter) and BeauTech Power Systems (BeauTech) have finalised a multi-engine sale and leaseback transaction involving six new Pratt & Whitney PW1900-series engines.
The deal is designed to support the rapid expansion of Porter’s Embraer E195-E2 fleet while providing the airline with increased financial flexibility.
The engines were delivered new from Pratt & Whitney to Porter’s leasing arm, Porter Aircraft Leasing Corp (PALC), which immediately sold the engines to BeauTech. The units were leased back to PALC and subsequently subleased to Porter Airlines for long-term flight operations.
“These PW1900 engines are essential assets for our E2 operation,” said Rob Palmer, Executive Vice President and CFO of Porter. “BeauTech delivered the structure and execution we needed.”
The engines will be used to support Porter’s growing E195-E2 fleet
