Porter Aviation Holdings has secured a financing commitment from the Brazilian Development Bank for up to 19 Embraer E195-E2 aircraft.
The financing is fully supported by export credit insurance from Brazil’s Export Credit Guarantee Fund, which is managed by the Brazilian Agency for Guarantee Funds and Guarantees.
Financial terms were not disclosed.
The aircraft are part of Porter’s existing firm order for 75 Embraer E195-E2 jets. The airline has already received 54 of those aircraft.
The BNDES commitment will be available for aircraft being delivered through December 2030. Three jets in Porter’s current fleet have already received BNDES support.
Export credit financing helps domestic manufacturers sell products internationally by providing buyers with government-supported loans or guarantees.
In this case, the financing supports Embraer aircraft exports from Brazil while giving Porter an additional source of long-term aircraft capital.
Porter introduced the E195-E2 to its fleet in 2023 and has used the aircraft to expand across Canada, the United States, Latin America and the Caribbean.
The aircraft has a two-by-two seating configuration without middle seats and supports Porter’s broader expansion into longer routes and additional markets.
KEY QUOTES:
“This represents a great milestone for Porter, successfully securing financing for the majority of our remaining firm E2 order.”
Rob Palmer, Executive Vice President and CFO of Porter Airlines
“Porter is one of the largest operators of E2 jets in the world and a benchmark in passenger experience in the competitive North American market.”
Felipe Santana, Executive Vice President of Finance and Investor Relations at Embraer
