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Overview
- Brazil’s monetary council approved norms to deploy R$4 billion now in FNAC-backed credit for airlines, using funds fed by airport concession grants.
- Interest rates range roughly from 6% to 7.5% per year with repayment terms of about five to twenty years, covering aircraft, parts, maintenance, sector services and domestically produced SAF.
- Borrowers must commit to SAF purchases that further cut CO2, increase the share of flights to Amazônia Legal and the Northeast by 30% versus 2024, and refrain from boosting shareholder payouts during grace periods.
- A proposed FGCE guarantee with a R$1.5 billion contribution did not advance in Congress, requiring airlines to provide bank or private guarantees.
- Contracting is set to begin this year, with BNDES expected to start operations in early 2026 and an additional R$4 billion planned for 2026, potentially rising to R$6 billion.