News
BNDES finances export of 32 E175s to American Airlines
The National Bank for Economic and Social Development (BNDES) concluded financing for the export of 32 Embraer E175 aircraft to American Airlines, with a total operation valued at approximately R$4.5 billion (US$0.8 billion).
The acquisition – announced earlier this year – includes a firm order for 90 E175 jets, with purchase rights for an additional 43 aircraft. If all purchase rights are exercised, the total deal will exceed $7 billion in value, according to the list price.
“This financing will help accelerate the production and export of our aircraft to American Airlines and boost Brazil’s neo-industrialization process, increasing the country’s innovation and competitiveness,” explained Francisco Gomes Neto, President and CEO of Embraer.
He added that BNDES’ “strategic vision” has been “fundamental to the development of national industry,” a sentiment echoed by the Bank’s president, Aloizio Mercadante, who stated: “Maintaining this support… contributes to [Embraer] remaining among the three largest in the world in aircraft production, generating qualified employment and income in Brazil”.
As Embraer’s largest partner, BNDES has supported the export of more than 1,300 aircraft since 1997, with financing that exceeded a combined total of US$25 billion. In February of this year, the federal government-owned company also approved financing of US$90 million for Embraer “to develop new products, processes and digital technologies for efficiency and productivity gains, as well as for sustainable air mobility, with a focus on energy transition and carbon emission reduction.”
José Luís Gordon, director of productive development, innovation and foreign trade at BNDES, concluded that “BNDES is committed to innovation in the Brazilian aerospace industry to make it increasingly competitive and sustainable, with the capacity to expand markets and develop new technologies, in line with the Brazilian federal government’s Plano Mais Produção, on the axis of a more export-oriented and innovative industry, focused on high added value products”.
Subscribe to our newsletter and receive our latest content in your inbox.