Brazil’s National Development Bank (BNDES) informed this Monday that it had approved a BRL 670 million (USD 128.9 million) financing for Brazilian planemaker Embraer to export six of the company’s E175 commercial jets to the US firm SkyWest Airlines, the world’s largest regional air transport company.
The aircraft will be delivered to SkyWest later this year under the commercial contract previously entered into with Embraer, according to a press release.
In the press release, the bank informed that the financing will be through the BNDES Exim Post-shipment modality, with disbursements made in Reais in Brazil in favor of Embraer. The importer, SkyWest, will commit to paying BNDES in US Dollars, generating foreign reserves in this currency for Brazil.
This was the bank’s second operation to support Embraer’s exports to SkyWest. The first was carried out in December 2020 for the amount of about BRL 400 million. In addition, since 1998, BNDES has entered into ten financing agreements with SkyWest for the acquisition of 200 aircraft, of which 18 EMB120s and 175 E175s have already been handed over, while another seven E175s are yet to be delivered.