SkyWest Airlines, Inc. [NASDAQ: SKYW] is eagerly awaiting its latest additions to its fleet thanks to a financial deal with the Brazilian government. Embraer recently announced that the Brazilian Development Bank (BNDES) approved financing for the export of six Embraer E175 commercial jets to the North American regional carrier. The aircraft will be delivered through the end of the year under existing previously announced orders with Embraer. This is great timing for the carrier, which finds itself working hard to stay on pace with ever-demanding flight schedules.
This is also a win for Embraer and the country of Brazil since the financing of R$670 million (approximately USD$128.3 million), will be made through disbursements conducted in Brazil. SkyWest’s commitment to pay BNDES in dollars helps to further stimulate foreign currency transactions in Brazil, something the country is very keen on.
