Brazilian Development Bank to finance Embraer aircraft purchase from SkyWest
The Brazilian Development Bank (BNDES) has approved financing for the purchase of six Embraer E175 commercial aircraft for North American regional carrier SkyWest Airlines, the world’s largest regional carrier. The aircraft will be delivered by the end of the year, according to previously announced existing orders.
The financing, in the order of R$670 million, will be through BNDES Exim Post-shipment, with disbursements made in reais in Brazil in favor of Embraer. SkyWest will assume the commitment to pay in dollars to BNDES.
→ Embraer Delivers 1700th E-Jet.
This is the second financing tranche with BNDES for the sale of Embraer aircraft to SkyWest Airlines using the innovative Aircraft Financing Insurance Consortium (AFIC) offering from Marsh. The first financing was executed in December 2020 in amount of R$ 400 million.
BNDES’s support for Embraer’s exports began in 1997 and provides conditions of competitiveness similar to those of its international competitors, which also provide financing from the development banks and export credit agencies (Export Credit Agencies) of their respective countries.
SkyWest operates the world’s largest fleet of the E175 jet consisting of 232 aircraft.
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