The Brazilian National Bank for Economic and Social Development (BNDES) has finalised the financing contract for the export of 32 Embraer E175 commercial jets to American Airlines. The operation, worth around R$4.5 billion (US$808 million), is facilitated through BNDES Exim Post-shipment, a direct credit line from the Bank to support the commercialisation of national goods destined for export.
The support from BNDES has been fundamental to the Brazilian aeronautical industry, considered strategic due to its high technological content, generation of high-skilled jobs and development of innovations with positive societal impacts.
“This financing will contribute to accelerating the production and export of our aircraft to American Airlines and boost Brazil's neo-industrialisation process, increasing the country's innovation and competitiveness,” said Francisco Gomes Neto, President and CEO of Embraer. “BNDES, with its strategic vision, has been fundamental to the development of national industry through financing exports, access to working capital resources and investment in research and development.”
At the beginning of the year, American Airlines announced a firm order for 90 E175 jets, with purchase rights for an additional 43 aircraft. The jets will be delivered with 76 seats. If all purchase rights are exercised, the agreement will exceed US$7 billion in value, according to list price. The value of the firm orders was included in Embraer's backlog in the first quarter of 2024.
“BNDES is Embraer's largest partner and has supported the export of more than 1,300 aircraft since 1997. This financing exceeds the sum of US$25 billion over the years. The continuation of this support under President Lula's government contributes to the Brazilian company remaining one of the three largest in the world in aircraft production, generating qualified jobs and income in Brazil,” said the Bank's President, Aloizio Mercadante.
In addition to exports, BNDES also supports Embraer's innovation investment plan. In February, the Bank approved financing of R$500 million (US$90 million), through BNDES Mais Inovação, for the company to develop new products, processes, and digital technologies to gain efficiency and productivity, and also for sustainable air mobility, focusing on energy transition and carbon emission reduction.
