2023-11-16 13:40:51
Embraer today announced the conclusion of an agreement to offer financial support to its customers for the acquisition of aircraft, with the support of UK Export Finance (UKEF). UKEF is the British government’s export credit agency, and will be the credit guarantor for future financial transactions.
The support is linked to the volume of imports of British materials and components by Embraer, and has collaboration mechanisms that can increase the amounts of credit available.
“This new partnership is an important step for Embraer, as it represents another credit option for our customers, increasing and diversifying the company’s range of financial solutions. Furthermore, UKEF is one of the largest export support agencies in the world. This operation reinforces the United Kingdom’s support for our company”, says Antonio Carlos Garcia, CFO of Embraer.
“This is another victory for the UK aerospace sector. We have world-class suppliers, who will now have priority to supply their products to one of the largest aircraft manufacturers in the world,” said Lord Offord, UK Export Minister. “The deal will not only provide a welcome boost to the sector’s suppliers, but will also encourage further purchasing from other British companies, boosting high-skilled, high-paying jobs across the country.”
“The agreement is an important milestone in deepening Embraer’s partnership with the British government. The agency can support projects of any size and in many sectors in Brazil, providing financial support for the acquisition of solutions in an excellent supply chain, such as the United Kingdom. UKEF is a complementary source of long-term financing, in addition to those already widely used and known in Brazil. It offers financial support with repayment terms of more than 10 years in most cases – and up to 22 years in green economy sectors, including renewable and clean energy”, says Fabio Accunzo, UKEF Director for Brazil and the Southern Cone.
The operation with UKEF brings several benefits, such as the promotion and development of the aeronautical industry in both countries and more credit options for Embraer customers. This is the second partnership between Embraer and UKEF in one year. In 2022, another US$100 million operation was announced, with the aim of financing Embraer’s purchases of British supplies.
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