KGAL has concluded another sale and leaseback agreement with Canadian carrier Porter Airlines. The deal was executed by GOAL, the joint venture between KGAL and Deutsche Lufthansa.
The leasing deal comprises of two E195-E2 aircraft and are part of KGAL's APF 5 fund, which specialises in aircraft leasing and has an investment volume of well over €400 million. The two aircraft are operated by Porter Airlines under long-term operating lease agreements.
In early December 2024, KGAL and Porter Airlines concluded a sale and leaseback agreement for three De Havilland Dash-8 Q400 aircraft.
All five of the aircraft are part of the KGAL APF 5 fund, which was set up as an individual mandate for a professional pension scheme. The aircraft are also part of the Canadian airline's growth strategy.
“Together with our subsidiary GOAL, we have the necessary technical and investment expertise from a single source to take advantage of the current opportunities in the market for aircraft financing,” said KGAL head of portfolio management aviation Stephen Gundermann.
GOAL manages the APF 5 fund as technical asset manager and is also a co-investor.