Porter Airlines has closed a sale and leaseback deal with BeauTech Power Systems for six Pratt & Whitney PW1900-series engines.
The engines were delivered new from Pratt & Whitney to Porter's subsidiary Porter Aircraft Leasing and immediately sold to BeauTech. The engines were subsequently leased back to the leasing subsidiary before they were subleased to Porter Airlines for long-term operational use.
The engines will support the airline's growing E195-E2 fleet, while optimising capital allocation across its fleet programme.
“This transaction supports Porterʼs growth with a reliable, long-duration engine solution," said Lee Beaumont, founder and CEO of BeauTech. “Porter operates one of the most modern narrowbody fleets in North America, and we're pleased to deepen our partnership through another seamless closing.”
“We value partners who can operate at the pace our rapidly growing business requires,ˮ said Rob Palmer, Executive Vice President and CFO, Porter. “These PW1900 engines are essential assets for our E2 operation, and BeauTech delivered the structure and execution we needed.ˮ