BNDES approves financing for export of commercial jets

The airline serves more than 120 destinations in North and Central America, including Hawaii, Canada, Mexico, Costa Rica and Belize.

This is the first BNDES financing for aircraft exports to the Alaska Air Group, which operates Alaska Airlines and Horizon. The aircraft will be delivered between 2023 and 2024 to Horizon, under the commercial contract previously signed with Embraer.

The financing will cover a portion of Alaska’s total investment in purchasing the planes. The funds will be disbursed in reais, in favor of Embraer, through the BNDES Exim Post-shipment line. The importer Horizon will assume the commitment to pay the BNDES in dollars, generating foreign exchange in that currency for Brazil.

The aeronautical sector is considered strategic by the bank, due to its high added value in technological content, innovation and workforce training. As in direct operations in the aeronautical sector, the aircraft themselves will be the main guarantees for the financing.

Support

BNDES’ support for Embraer’s exports began in 1997 and provides competitive conditions similar to those of its international competitors, which rely on financing from development banks and export credit agencies in their respective countries.

The president of BNDES, Aloízio Mercadante, highlighted the bank’s historic partnership with Embraer in supporting aircraft exports. According to Mercadante, this makes it possible to maintain highly qualified jobs in Brazil, “generating significant investments and strengthening Brazil’s position in the international market”. The minister also said that support for exports is essential to boost national competitiveness, generate jobs and contribute to the trade balance.