• Operation worth around R$ 1.9 billion is the largest in terms of number of aircraft ever carried out directly between the Bank and the Brazilian airline 

The National Bank for Economic and Social Development (BNDES) approved the financing of ten Embraer E195-E2 commercial jets for Azul Linhas Aéreas. The operation, worth around R$1.9 billion, will expand the company’s air transport capacity. 

This is the largest aircraft acquisition operation carried out directly between BNDES and Azul Linhas Aéreas. In 2009, seven aircraft were financed, worth around R$360 million, and in 2010, six aircraft, worth around R$330 million. 

According to the president of BNDES, Aloizio Mercadante, historically, countries with cutting-edge aeronautical industries finance their national manufacturers on a permanent basis, through development banks and export credit agencies. “In Brazil, this role is played by BNDES. Azul’s acquisition of Embraer aircraft strengthens the national economy, generating tax collection here, in addition to qualified jobs and income in Brazil, central objectives of President Lula’s government’s development policy,” he stated. 

“Embraer, BNDES and Azul form a historic partnership that has been fundamental to the growth of the Brazilian air transport industry,” said Antonio Carlos Garcia, executive vice president of Finance and Investor Relations at Embraer. “The E-Jets E2 are the most efficient single-aisle aircraft today, designed and produced in Brazil, and can effectively contribute to increasing connectivity on domestic routes.” 

For Azul’s CEO, John Rodgerson, “BNDES has a history of supporting the development and growth of the aviation sector. The financing of Embraer’s new aircraft for Azul clearly demonstrates a vote of confidence in our business and our future, generating jobs and income throughout the country. This also demonstrates the strength of three large genuinely national institutions: Azul, Embraer and BNDES working together on behalf of Brazil.” 

According to the director of Productive Development, Innovation and Foreign Trade at BNDES, José Luís Gordon, the Bank’s direct support for Azul strengthens the national industry. “This project reinforces BNDES’ commitment to the Brazilian aerospace industry and national airlines that are part of a fundamental sector for the Brazilian economy,” he says.

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