KGAL concludes leasing deal with Porter Airlines for two Embraer aircraft

KGAL has concluded another sale and leaseback agreement with the Canadian carrier Porter Airlines. The deal was executed by GOAL, the long-standing joint venture between KGAL and Deutsche Lufthansa AG. The leasing deal comprises two Embraer E195-E2 aircraft. The aircraft are part of the KGAL APF 5 fund, which specialises in aircraft leasing and has an investment volume of well over 400 million euros.

With up to 146 seats, the E195-E2 is the largest aircraft in the Embraer family. It is also the most sustainable and fuel-efficient model in its class. Compared to the previous generation, the E2 has 25 percent less fuel consumption per seat. The two modern aircraft are operated by Porter Airlines under long-term operating lease agreements. At the beginning of December 2024, KGAL and Porter Airlines concluded a sale and leaseback agreement for three De Havilland Dash-8 Q400 aircraft. The five aircraft are an important building block in the Canadian airline’s growth strategy.

All of the aircraft are part of the KGAL APF 5 fund, which was set up as an individual mandate for a professional pension scheme. “With this transaction, we are pleased to once again create added value for our airline partner as well as for our investors. Together with our subsidiary GOAL, we have the necessary technical and investment expertise from a single source to take advantage of the current opportunities in the market for aircraft financing,” says Stephan Gundermann, Head of Portfolio Management Aviation at KGAL.

GOAL manages the APF 5 fund as technical asset manager, and is also a co-investor.

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