Porter Secures Financing Commitment from BNDES for 19 Embraer E195-E2 Aircraft

Carrier continues growing its E2 fleet, with 75 confirmed orders

TORONTO--(BUSINESS WIRE)--Porter Aviation Holdings Inc. (PAHI), the parent company of Porter Airlines, has secured financing with the Brazilian Development Bank (BNDES) for up to 19 Embraer E195-E2 aircraft. BNDES’s commitment is fully backed by Export Credit Insurance from the Export Credit Guarantee Fund (FGE) of Brazil, managed by the Brazilian Agency for Guarantee Funds and Guarantees (ABGF).

The aircraft are part of Porter’s existing firm order for 75 E2s, of which 54 have already been delivered. The commitment is being made available to Porter for aircraft delivering now through the planned delivery stream in December 2030.

Since introducing the E2 to its fleet in 2023, Porter has expanded throughout North America, now serving destinations across Canada, the U.S., Latin America and the Caribbean. The aircraft is instrumental in helping the airline deliver its award-winning service offering, featuring a two-by-two cabin configuration with no middle seats, complimentary beer and wine served in glassware, and free, fast WiFi for every passenger.

“Porter is one of the fastest-growing airlines in North America, with our E2 fleet playing a fundamental role in introducing the airline to millions of new passengers in recent years,” said Rob Palmer, executive vice president and CFO, Porter Airlines. “This represents a great milestone for Porter, successfully securing financing for the majority of our remaining firm E2 order. Having BNDES and ABGF as partners at this stage demonstrates that our business plan is progressing well, with many more E2 deliveries to come.”

Three of Porter’s current 54 E2 fleet have already been supported by BNDES. The agreement provides a financing option for deliveries expected through 2030.

“BNDES plays an important role in supporting the diversification of Embraer customers in the North American aviation sector, with an aircraft model that uses more advanced technologies and has a lower environmental impact,” said Aloizio Mercadante, president, BNDES.

"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. It is a great satisfaction to see this customer's fleet growth and to be able to connect more people with our aircraft, in addition to celebrating the solid partnership with BNDES in supporting our exports," says Felipe Santana, Executive Vice President, Financial and Investor Relations at Embraer.

About Porter

Since 2006, Porter Airlines has been elevating the experience of economy air travel for every passenger, providing genuine hospitality with style, care and charm. Porter’s fleet of Embraer E195-E2 and De Havilland Dash 8-400 aircraft serves North America, including a coast-to-coast domestic Canadian network, the U.S., Mexico, the Caribbean and Central America. Headquartered in Toronto, Porter is an Official 4 Star Airline® in the World Airline Star Rating®. Visit www.flyporter.com or follow @porterairlines on Instagram, Facebook and X.

About BNDES

The Brazilian Development Bank (BNDES) is Brazil’s main long-term financing institution for national development. A federal public company linked to the Ministry of Development, Industry, Trade and Services (MDIC), BNDES supports investments across various sectors of the economy, with a focus on job creation, innovation, sustainability, and enhancing the competitiveness of Brazilian companies. Throughout its history, BNDES has played a strategic role in strengthening domestic industry, expanding infrastructure, and promoting exports, contributing to Brazil’s economic and social development.

About Embraer

A global aerospace company headquartered in Brazil, Embraer operates in the Commercial Aviation, Executive Aviation, Defense & Security, and Agricultural Aviation segments. The company designs, develops, manufactures and markets aircraft and systems, and provides after-sales Services & Support to customers.

Since its foundation in 1969, Embraer has delivered more than 9,000 aircraft. On average, every 10 seconds, an aircraft manufactured by Embraer takes off from somewhere in the world, transporting more than 150 million passengers annually.

Embraer is a leading manufacturer of commercial jets up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service centers and parts distribution, among other activities, in the Americas, Africa, Asia and Europe.