Brazil’s National Bank for Economic and Social Development (BNDES) has approved financing of approximately 900 million reais (~USD 157 million) for U.S.-based airline Horizon Air, a subsidiary of Alaska Air Group Inc., to support the export of six Embraer E175 aircraft to the United States. The deliveries are scheduled for 2025 and 2026, according to the bank.
Supporting the Export of Brazilian Aircraft
The financing is provided through the BNDES Pós-Embarque program, covering part of the airline’s total investment. As part of the agreement, Horizon Air will make payments to BNDES in U.S. dollars, generating foreign currency inflows for Brazil.
This is the second loan approved by BNDES for Horizon Air, following the 2023 financing for the export of 11 Embraer aircraft.
BNDES President Aloizio Mercadante highlighted that “from January 2023 to January 2025, the bank has approved financing for the export of 141 Embraer aircraft, a 67% increase compared to all exports approved under the previous administration.” He also noted that “for U.S. companies alone, we have supported the export of 100 aircraft since 2023.”
Impact on Brazil’s Aerospace Industry
According to Embraer’s President and CEO, Francisco Gomes Neto, this type of financing “strengthens not only the company but also the entire ecosystem in which it operates in Brazil, contributing to the sustainability of a robust production chain and the creation of thousands of high-skilled jobs in the country.”
Since 1997, when BNDES began supporting Embraer’s exports, the bank has financed approximately $26.3 billion for the export of more than 1,330 aircraft. According to BNDES, these funds have allowed Embraer to compete on equal footing with other manufacturers in the global market, complementing financing from the private sector.
BNDES’ Director of Productive Development, Innovation, and Foreign Trade, José Luís Gordon, emphasized the importance of this operation, approved in early 2025. “With this second approval for Embraer exports so far this year, we are expanding our support for the national aerospace industry and strengthening our partnership with Alaska Air Group, with a second loan in less than two years,” he stated.
According to Gordon, this support “helps strengthen the presence of Brazil’s aerospace industry in the global market and improves the country’s trade balance,” aligning with the government’s policy to increase manufactured exports.
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