Yes, that is what Porter did; sold some of the purchased E2-195s and are now leasing them back. They did the same thing with the terminal at YTZ. It’s not a good sign. It’s indicative of “burning the furniture to heat the house”. The long term for such an endeavour is rarely better.CaptDukeNukem wrote: ↑Tue Jan 17, 2023 12:34 pm From what I understand they got a pretty good deal on the E2s. Also, sold them to a few leasing companies for a small profit then leased them back right away. Which I believe is termed appropriately a leaseback
Again, I have zero idea as to what exactly was written in that deal, but I do believe that they are making sound business decisions and cost per mile for the E2 is wayyyyy better than mostly everything other than the 220.
They sold the YTZ terminal for about $550M and are leasing it back for $54M a year. It burned them during the Covid shutdown, as their recently lost court case requires they pay back the $100M+ accrued for rent/slots even though it wasn’t used.
The cost per mile of the 195 is good, but not “wayyyyyy” better. But …. that is per airplane mile, not seat mile. The best seat mile costs for a 4-5 hour flight are the Max8 (189 seats) and the A321 (200 seats). The 189 seat 737-800 is still worthy of mention, and still better than an E2-195.