A TrueNoord acquisition has taken place, with the international regional aircraft lessor, gaining six new E195-E2 aircraft from Brazilian manufacturer Embraer. These aircraft are set to be delivered in 2023 and will be leased to Canadian Porter Airlines, as part of a long-term lease agreement between the two companies.
A new TrueNoord acquisition
Regional aircraft leasing specialist TrueNoord, has announced a purchase agreement for six new E195-E2 regional aircraft from Brazilian manufacturer Embraer. TrueNoord will lease these next-generation aircraft to its Canadian client Porter Airlines on a long-term operating lease, as part of Porter’s order for 30 E195-E2 aircraft revealed in 2021. The aircraft are due to be delivered in 2023.
Porter is TrueNoord’s first client in North America, and the first to operate the E195-E2 on the continent. For TrueNoord Sales Director Garry Topp, this collaboration with the Canadian airline is an inspiring one.
“TrueNoord has grown to become a significant player in the Embraer leasing market,” says Topp.
“We have great relationships with our colleagues at Embraer around the world and appreciate their ongoing support as we grow our portfolio of aircraft. They are an important partner to our business and we enjoy working with their professional team.”
According to Anne-Bart Tieleman, CEO of TrueNood, building relationship with airlines such as Porter Airlines now, will only lead to bigger opportunities in the future.
“This transaction demonstrates our desire to develop the business in a measured way, building long-term relationships with high-quality operators, such as Porter Airlines. We are excited about the consistent and steady growth we are making across all of the Americas, it is a diverse and dynamic part of the global aviation market and presents significant opportunities. TrueNoord is well placed to expand further in this important region.”
Porter Airlines to expand in North America
Porter Airlines operates primarily at the Toronto Pearson International Airport, and will use the E195-E2 to connect key destinations across Canada and the United States. The E195-E2 is a next-gen regional aircraft that offers superior fuel efficiency and long-range capabilities while being simple to operate, and Porter Airlines plans to use it to expand across the continent and offer new travel options for passengers.
Porter Airlines Executive Vice President and CFO Jeffrey Brown understands the importance of this partnership to continue to expand the airline’s market share.
“The growth plans that Porter is pursuing require support from dedicated partners. TrueNoord fits this mould, not simply from a financial perspective, but also by understanding our vision and how we intend to use the E195-E2 to help introduce a new level of service throughout North America.”
“Porter is deeply experienced and know their market well, having successfully operated for more than 15 years. They are blending this experience with great enthusiasm, innovation and creativity to build a successful business around the new E195-E2. This aircraft has the potential to be disruptive to the market and Porter understand the opportunity this creates,” says Topp.
Do you think the leasing of the aircraft will grow Porter Airlines market share? Let us know in the comments below!