BNDES supports export of 24 Embraer aircraft to the United States

São José dos Campos – SP, October 7, 2021 – The National Bank for Economic and Social Development (BNDES) approved financing for the export of 24 Embraer E175 commercial jets to SkyWest Airlines, the world’s largest regional aviation company, based in Utah, United States. The operation strengthens national industrial production at a time when it is still feeling the effects of the Covid-19 pandemic and helps make the presence of Brazilian high-tech products viable in the largest and most competitive aviation market in the world. The planes are being delivered between August 2021 and April 2022.

The financing of more than US$ 500 million (more than R$ 2.6 billion) follows the line of operations carried out by export credit agencies in countries with state-of-the-art aeronautical industries. It is a sector considered strategic by the nations due to aspects such as technology, innovation and high workforce training. These agencies act in a complementary way to the private credit market and with greater intensity in times of crisis, as evidenced by the history between BNDES and Embraer.

The BNDES’ director of Productive and Social and Environmental Credit, Bruno Aranha, highlights the institution’s importance in financing exports. “BNDES is a relevant historical actor in the functioning of the national export system with countercyclical action that grants perpetuity to the operations of national exporters for over 25 years”, he declares. “This operation is another important step for the BNDES in this trajectory, supporting the company in the resumption of sales growth in the context of the biggest challenge ever faced in the history of the aeronautical sector, thus ensuring the maintenance of qualified jobs in the country”, he adds .

With the decrease in long-distance flights due to the pandemic, the E175, which carries up to 88 passengers, was one of the models less impacted by the effects of Covid-19. There are currently more than 600 jets of this model in operation around the world, making it the leader in its segment.

Despite the effects of the pandemic, the American market has recovered. In May 2020, the number of flights corresponded to 24% of the same month of the previous year, a rate that recovered to 80% in May 2021. BNDES and Embraer intensified their operations in this context of economic recovery.

“As the world’s largest owner and operator of the Embraer 175 jet, SkyWest is delighted to have BNDES support as our primary financial partner for this important aircraft,” said Robert Simmons, SkyWest’s Chief Financial Officer. “BNDES has been a great partner over years of growth amidst diverse economic environments.”

“The BNDES’ support is essential at this time of resumption of air transport in the United States, the main market for our Embraer 175 jet. Regional aviation has played an extremely important role in the recovery of commercial flights around the world and this has benefited Embraer jets, which are the most efficient in the industry,” said Antonio Carlos Garcia, Embraer Executive Vice President of Finance and Investor Relations. “We are the largest exporter of high value-added goods in Brazil and we have been able to implement and offer intelligent and flexible financing solutions for our customers, in line with the growth strategy for the coming years.”

The financing will be through the BNDES Exim Pós-embarque, with disbursements made in reais in Brazil in favor of the exporter (Embraer). In this type of operation, the importer undertakes to pay the BNDES in dollars, attracting foreign exchange in this currency to Brazil. Included in the transaction is credit insurance with coverage for commercial, political and extraordinary risks.

BNDES and Embraer

Started in 1997, BNDES’ support for Embraer’s exports is important to provide competitive conditions similar to those of its international competitors, which also rely on financing from development banks and export credit agencies in their respective countries. The Bank’s activities contribute to maintaining the company’s production and employment levels, which stand out in Brazil for the high technological and innovative content of its products, as well as its chain of suppliers.

About Embraer

A global aerospace company headquartered in Brazil, Embraer operates in the Commercial Aviation, Executive Aviation, Defense & Security and Agricultural Aviation segments. The Company designs, develops, manufactures and markets aircraft and systems, in addition to providing Service & Support to customers in the aftermarket.
Since its foundation in 1969, Embraer has delivered more than 8,000 aircraft. On average, every 10 seconds an aircraft manufactured by Embraer takes off from somewhere in the world, transporting more than 145 million passengers annually.
Embraer is the leading manufacturer of commercial jets with up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service centers and parts distribution, among other activities, in the Americas, Africa, Asia and Europe.

About Skywest

It is the largest regional air transport group in the world. In 2019, it was responsible for boarding approximately 45 million passengers on 2,300 daily flights to destinations in the US, Canada and Mexico. The company works in partnership with the main North American airlines: American Airlines, Delta, United and Alaska.


Founded in 1952 and currently linked to the Ministry of Economy, BNDES is the main instrument of the Federal Government to promote long-term investments in the Brazilian economy. Its actions are focused on the social, environmental and economic impact in Brazil. The Bank offers special conditions for micro, small and medium-sized companies, in addition to social investment lines, aimed at education and health, family farming, basic sanitation and urban transport. In crisis situations, the Bank acts counter-cyclically and helps formulate solutions for the resumption of economic growth.