Porter Airlines Secures BNDES Financing for 19 Embraer E195-E2s

Porter Airlines (PD) has secured a financing commitment from the Brazilian Development Bank (BNDES) to support the delivery of up to 19 Embraer E195-E2 aircraft through December 2030. The agreement, announced on July 29, 2026, provides the capital required for the majority of the Canadian carrier’s remaining firm orders for the narrowbody jet.

In a press release issued by Porter Aviation Holdings Inc., the company confirmed the financing is fully backed by Export Credit Insurance from Brazil’s Export Credit Guarantee Fund (FGE), which is managed by the Brazilian Agency for Guarantee Funds and Guarantees (ABGF). The financial backing ensures a stable delivery pipeline as Porter continues its rapid network expansion across North America, Latin America, and the Caribbean.

Fleet expansion and delivery timeline

Porter Airlines introduced the Embraer E195-E2 to its fleet in 2023. The airline holds a total of 75 firm orders for the aircraft type and has already taken delivery of 54 units. Prior to this new agreement, BNDES had previously supported the financing of three aircraft currently operating in the Porter fleet.

Rob Palmer, Executive Vice President and Chief Financial Officer at Porter Airlines, stated that the E2 fleet has been fundamental in introducing the airline to millions of new passengers over the past three years.

“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,” Palmer said.

Brazilian export support and manufacturer relations

The financing arrangement highlights the role of Brazilian state-backed institutions in supporting Embraer’s export market. By utilizing the FGE and ABGF, BNDES facilitates international sales for Brazil’s aerospace sector while providing operators like Porter with long-term capital stability.

Felipe Santana, Executive Vice President of Financial and Investor Relations at Embraer, noted the importance of the transaction for both the manufacturer and its financial partners. Santana highlighted Porter’s position as one of the largest global operators of the E2 family.

“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,” Santana said.

AirPro News analysis

We view this financing agreement as a critical de-risking step for Porter Airlines as it executes the final phase of its initial Embraer E195-E2 fleet strategy. Securing a delivery pipeline through December 2030 shields the carrier from near-term capital market volatility. The involvement of BNDES underscores Embraer’s competitive advantage in leveraging state-backed export credit to finalize large-scale fleet placements in the North American market.

Sources: Porter Aviation Holdings Inc.