Aergo Capital completes purchase and leaseback of five Dash 8-400 aircraft with Porter Aircraft Leasing

Porter Airlines Dash 8-400 aircraft ©Aergo Capital

Aergo Capital (Aergo) has successfully completed the purchase and leaseback of five De Havilland Dash 8-400 aircraft with Porter Aircraft Leasing Corp., a wholly owned subsidiary of Porter Aviation Holdings (Porter). The aircraft, bearing manufacturing serial numbers 4130, 4134, 4138, 4140 and 4193, all closed in December 2021 and are operated by Porter from its Toronto headquarters.

“The ability to capitalise a portion of Porter’s Dash 8 fleet demonstrates that we have additional financing options to strengthen our balance sheet,” said Jeffrey Brown, Executive Vice President and CFO, Porter. “We intend to use these funds as supplementary working capital as the airline industry continues its pandemic recovery.”

Smith, Gambrell & Russel acted as a lead counsel to Aergo and KPMG advised on tax matters. Seabury Securities acted as advisor and placement agent to Porter for these transactions, with Parr Brown Gee & Loveless acting as lead legal counsel.

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