BNDES approves US$ 500 million for Embraer to export 24 aircraft to the US

The National Bank for Economic and Social Development (BNDES) approved financing for the export of 24 Embraer E175 commercial jets to SkyWest Airlines, the world’s largest regional aviation company, based in Utah, United States. The planes are being delivered between August 2021 and April 2022.

The financing of more than US$ 500 million (more than R$ 2.6 billion) follows the line of operations carried out by export credit agencies in countries with state-of-the-art aeronautical industries. It is a sector considered strategic due to aspects such as technology, innovation, and high workforce training.

With the decrease in long-distance flights due to the pandemic, the E175, which carries up to 88 passengers, was one of the models less impacted by the effects of Covid-19. There are currently more than 600 jets of this model in operation around the world, making it the leader in its segment.

Despite the effects of the pandemic, the American market has recovered. In May 2020, the number of flights corresponded to 24% of the same month of the previous year, a rate that increased to 80% in May 2021. BNDES and Embraer intensified their operations in this context of economic recovery.

The financing will be through BNDES Exim Pós-embarque, with disbursements made in Brazilian reais in favor of the exporter (Embraer). In this type of operation, the importer undertakes to pay the BNDES in dollars, attracting foreign exchange in this currency to Brazil. Included in the transaction is credit insurance with coverage for commercial, political, and extraordinary risks.

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