Business

Brazil’s Embraer to get $413 mln BNDES financing for aircraft production, exports

Brazilian planemaker Embraer SA (EMBR3.SA) said on Monday that the country’s state development bank BNDES has approved a 2.2 billion real ($413.15 million) credit line to finance the firm’s commercial aircraft production and exports.

The move comes roughly a month after Embraer announced a $650 million revolving credit facility with a group of national and international financial institutions to reinforce its liquidity.

BNDES had recently also agreed to fund exports of six Embraer E-175 jets to U.S.-based carrier SkyWest Inc (SKYW.O).