Avianca has secured up to US$300 million in financing to support MRO services for its CFM56 engines at GE Aerospace’s Celma facility in Brazil.
The agreement, announced by Avianca, GE Aerospace and the Brazilian Agency for Management of Guarantee Funds and Guarantees (ABGF), was arranged through Citibank and backed by export credit insurance provided by ABGF.
The financing supports the export of high-value Brazilian services and marks the first time a non-Brazilian airline has secured funding under the framework for aircraft engine maintenance services.
Avianca, part of the Abra Group alongside Gol and Wamos, said the agreement would provide greater flexibility in executing its engine maintenance plans while supporting the reliability and resilience of its fleet.
“This innovative financing solution, a first-of-its-kind with ABGF, provides Avianca with access to world-class maintenance and overhaul services at our Celma facility in Brazil,” said Mahendra Nair, Group Vice-President of Global Commercial Sales at GE Aerospace.
The agreement further strengthens Brazil’s position as a regional hub for specialised aerospace services, supported by skilled personnel, internationally certified facilities and advanced technical capabilities.
GE Aerospace’s Celma operation is the company’s main aircraft engine overhaul facility in Latin America. Nearly 25% of GE Aerospace’s internal engine maintenance work worldwide is carried out by its Brazilian operations across five sites in Petrópolis, Rio de Janeiro and Três Rios.
