BNDES finances 32 Embraer E175 jets to American Airlines
São José dos Campos, Brazil – The Brazilian National Bank for Economic and Social Development (BNDES) concluded the financing contract for the export of 32 Embraer E175 commercial jets to American Airlines. The operation, worth around R$4.5 billion, takes place through BNDES Exim Post-shipment, a direct credit line from the Bank to commercialization of national goods destined for export.
The announcement was made Friday July 19 in a ceremony at Embraer’s headquarters in São José dos Campos, interior of São Paulo state, which was attended by the Brazilian President, Luiz Inácio Lula da Silva, the Brazilian Vice-President, Geraldo Alckmin, the Minister of Ports and Airports, Silvio Costa Filho, and the president of BNDES, Aloizio Mercadante, among other authorities.
“This financing will contribute to accelerating the production and export of our aircraft to American Airlines and boosts Brazil’s neo-industrialization process, increasing the country’s innovation and competitiveness,” said Francisco Gomes Neto, president and CEO of Embraer.
At the beginning of the year, American Airlines announced a firm order for 90 E175 jets, with purchase rights for an additional 43 aircraft. The jets will be delivered with 76 seats. If all purchase rights are exercised, the agreement will exceed US$ 7 billion in value, according to the list price. The value of the firm orders was included in Embraer’s backlog in the first quarter of 2024.
Source Embraer / Edited by Fire and Aviation TV shared with Airline Adviser 07/23/24