Brazilian planemaker Embraer may obtain credit lines between $1 billion and $1.5 billion from the country's development bank, BNDES, and other lenders after a deal to sell its commercial aircraft division to Boeing fell through, two sources close to the matter said on Friday.
Proceeds from the loan would be used as working capital and export finance, the sources said, asking for anonymity because the negotiations remain private. Embraer may also be included in a relief program for national airlines affected by the COVID-19 pandemic, they said.
“Embraer was not contemplated in our efforts to help the airline industry. ... Then there was the issue with Boeing and it became a candidate” for support, one of the sources told Reuters.
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