BNDES approves up to R$3.7 billion to finance Embraer jet exports to Porter Aviation

Brazil’s national development bank, BNDES, has approved between R$3.3 billion and R$3.7 billion in financing to support Embraer’s export of up to 19 aircraft to Canada’s Porter Aviation Holdings, the bank said on Monday.

The aircraft to be sold to the Canadian company are Embraer E195-E2 jets and are expected to be delivered by 2030.

Porter Aviation, through Porter Airlines, serves passengers across North America, including Canada and the United States, as well as the Caribbean and Latin America.

The financing is backed by export credit insurance from Brazil’s Export Guarantee Fund, known as FGE. The coverage is operated by the Brazilian Guarantees and Guarantee Funds Management Agency, or ABGF.

According to BNDES, Porter has been receiving Embraer aircraft since 2023. The company has taken delivery of 54 of the 75 aircraft planned, including three supported by BNDES financing.

“BNDES support for Embraer exports helps maintain production levels and jobs in Brazil’s aerospace industry while expanding the market for a more technologically advanced aircraft,” BNDES President Aloizio Mercadante said in a statement.

Last week, BNDES announced a R$13.5 billion credit line, funded by Brazil’s National Civil Aviation Fund, to support the largest airlines operating in the country.

Of that total, R$8 billion will be available for working capital, while the remainder will go toward investments in sustainable aviation fuel, infrastructure, maintenance and aircraft purchases.

Source: Antena 1

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