According to the federal development bank, the amount will cover a portion of the total investment made by the North American company
The (National Bank for Economic and Social Development) approved financing of R$ 1.1 billion for the export of 8 E190-E2 and/or E195-E2 commercial jets to , a North American company specializing in the acquisition and leasing of aircraft for the operation of commercial airlines. According to the federal development bank, the amount will cover a portion of the total investment made by the United States company.
Financing is provided through the BNDES Exim Post-Shipment credit line – aimed at the export of national goods and associated services. Disbursements are made in reais in Brazil to Embraer.
The aircraft are already in Embraer’s order book and will be delivered between December 2024 and 2025 to operators. This is the 3rd BNDES financing for the export of E2 family aircraft to Azorra.
According to the development bank, the North American company undertakes to pay the BNDES in dollars, resulting in foreign currency for Brazil. Azorra is the 4th largest regional aircraft leasing company and has a current portfolio of leasing contracts with 31 customers in 26 countries.
The operation will be the first by BNDES to be guaranteed by Itasca’s Private Credit Insurance. It states that there is full coverage of the credit for the entire term. The development bank reinforces that the operation “contributes to the generation and maintenance of high-skilled jobs in Brazil”in addition to strengthening “Embraer’s market position among aircraft leasing companies and in the Asian market”.
The president of BNDES, states that the financial institution is expanding its operations. “This year alone, BNDES approved financing for the export of 56 Embraer aircraft to different markets, in the Americas, Europe and Asia. We closed new contracts for commercial and military aircraft. It is also supporting the production of the company’s flying car, with a factory in Brazil and high technological production […]. In history, BNDES has already supported the production of more than 1,300 of the company’s aircraft”he declares.
Embraer’s Executive Vice President of Finance and Investor Relations, Antonio Carlos Garcia, says the aircraft manufacturer is “expanding the presence of commercial jets from the E2 family” not international market.
The director of Productive Development, Innovation and Foreign Trade at BNDES, José Luís Gordon. says that the aeronautical sector is “strategic” due to the high added value. “On average, 30% of what Embraer exports is financed by BNDES, an essential instrument for the company to gain more markets and which cannot create any obstacles”he declares.
