CMN regulates R$1 billion credit line for airlines

The CMN (National Monetary Council) approved a resolution that establishes the conditions for granting up to R$1 billion in financing for the working capital of Brazilian airlines, stated the Ministry of Ports and Airports this Thursday (21).

According to the ministry, the measure - announced in April and implemented through a provisional measure - is part of the federal government's set of actions to support the airline sector in the face of the rise in the price of QAV (aviation kerosene) amid the impacts generated by the war in the Middle East.

The resolution, approved on Wednesday (20), provides that operations will have a payment period of up to six months, a rate equivalent to 100% of the CDI and a financing limit corresponding to up to 1.6% of each company's annual gross revenue in 2025, limited to R$330 million, stated the ministry.

The resources will be managed by Banco do Brasil, with credit risk entirely assumed by the Union.

The CMN is made up of the Minister of Finance, Dario Durigan, the president of the Central Bank, Gabriel Galípolo, and the Minister of Planning and Budget, Bruno Moretti.

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Source: CNN