BeauTech Power Systems (BeauTech) and Porter Aviation Holdings Inc. (Porter) have announced the completion and delivery of six PW1900 engines from Pratt & Whitney, as part of a multi-engine sale-and-leaseback transaction.
Under the structure of the transaction, the engines were delivered new from Pratt & Whitney to Porter’s wholly owned subsidiary, Porter Aircraft Leasing Corp. (PALC), and immediately sold to BeauTech. The engines were then leased back to PALC and subleased to Porter Airlines, Porter’s airline subsidiary, for long-term operational use. The sale-and-leaseback arrangement provides Porter with reliable engine capacity to support the growth of its Embraer E195-E2 fleet, while optimising capital allocation across its fleet programme.
“This transaction supports Porter’s growth with a reliable, long-duration engine solution,” commented Lee Beaumont, founder and CEO of BeauTech. “Porter operates one of the most modern narrow-body 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,” added 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.”
This closing represents another milestone in BeauTech’s continued expansion in the next-generation engine leasing market and underscores Porter’s commitment to operating a young, fuel-efficient fleet across North America.
