Aviation

Avolon signs €770m sale and leaseback deal with Canadian airline for 10 new Embraer aircraft

The Dublin-based aircraft leasing giant said the Embraer E195-E2 aircraft would support the airline’s expansion of routes into Canada and North America

The E195-E2 was designed to maximise efficiency in achieving 25 per cent lower carbon emissions and fuel burn compared to the previous generation aircraft, the company said.

Avolon has announced a sale and leaseback deal with Canadian airline Porter for 10 aircraft valued at more than $840 million (€770 million).

The Dublin-based aircraft leasing giant said on Tuesday Embraer E195-E2 aircraft would support the airline’s expansion of routes into Canada and North America.

Four of the aircraft are due for delivery this year with the remaining six set to be delivered next year, Avolon said in a statement.

The leasing company said ...