Canada-based Porter Aviation Holdings has successfully closed a transaction where six Pratt & Whitney PW1900-series engines have been delivered new to Porter Aircraft Leasing Corp. (PALC), and immediately sold to BeauTech Power Systems.

The engines have subsequently been leased back to PALC and subleased to Porter Airlines, Porter’s airline subsidiary, for long-term operational use.

This sale and leaseback agreement provides Porter with engine capacity for its growing Embraer E195-E2 fleet, while optimising capital allocation across its fleet programme.

READ: Porter Airlines E-Jet pilots begin CAE simulator training

“This transaction supports Porter’s 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,” 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.”

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.