The Brazilian Development Bank (BNDES) has approved financing to export 24 Embraer E175 commercial jets to SkyWest Airlines, one of the largest regional aviation company, based in Utah, U.S.A. The deal strengthens Brazil’s industry at a time when it is still feeling the effects of the COVID-19 pandemic and boosts the presence of high-tech Brazilian products in the world’s largest and most competitive aviation market. The deliveries began in August and will continue until April 2022.
The financing of over US$500 million (more than R$ 2.6 billion), is in line with operations carried out by export credit agencies in countries with cutting-edge aeronautical industries. The aeronautical sector is considered strategic by nations due to key aspects such as advanced technology, continuous innovation, and highly skilled workers. Export credit agencies operate to complement the private credit market, doing so more intensely in times of crisis, which is clear in the history between the BNDES and Embraer.
