Azorra Secures $190 Million BNDES Financing Facility Backed by ITASCA

Fort Lauderdale, Florida, USA

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Azorra has finalized a landmark US$190 million (R$1.1 billion) financing agreement with the Brazilian Development Bank (BNDES) to fund up to eight Embraer E2 jets. This facility marks the inaugural collaboration between BNDES and ITASCA MGA Limited, further enhancing Azorra’s commitment to innovative financing solutions.

The financing, structured under BNDES’ Exim Post-shipment Product, will support the delivery of aircraft from Azorra’s Embraer E2 orderbook.

Claudia Ziemer, Senior Vice President of Finance at Azorra, says: “Fueling aviation growth through innovative financing is a cornerstone of Azorra’s mission. This non-recourse facility represents a significant step forward in our relationship with BNDES and reinforces our commitment to modernizing airline fleets globally. By enabling the placement of next-generation aircraft, we’re not only meeting airlines’ operational needs but also advancing their sustainability goals.”

This agreement builds on Azorra’s growing partnership with BNDES, which previously included a $300 million facility secured in July 2024 and a $150 million facility in December 2023. Collectively, these agreements have facilitated debt financing for up to 15 E2 aircraft, delivering to leading airlines such as Royal Jordanian, Azul, and Scoot.

With the addition of this ITASCA-backed facility, Azorra now has access to $640 million in total BNDES financing, enabling the delivery of 23 next-generation Embraer E2 jets.

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ABOUT AZORRA

Azorra is a relationship-driven aircraft lessor that provides leasing, financing, fleet transition and asset management solutions to aircraft investors, financiers and airline operators worldwide. Azorra’s multi-cultural team reflects the global markets that we serve and includes core competencies in aviation law, aircraft finance, maintenance, marketing, sales, trading and leasing.    

Our team is led by seasoned veterans having a shared history of success and is complemented with young professionals who bring fresh perspective, ideas and enthusiasm. Azorra currently owns and manages a fleet of more than 100 aircraft, with total commitments of more than 160 aircraft including orders for new Airbus A220-100/300 aircraft and Embraer E190/195-E2 aircraft. The company is headquartered in Fort Lauderdale, Florida, and has an office in Dublin, Ireland.