Avianca has secured financing of up to US$300 million to support maintenance, repair and overhaul work on its CFM56 engines at GE Aerospace’s Celma shop in Brazil. The structure, arranged through Citibank and backed by export credit insurance from Brazil’s ABGF, funds shop visits for the airline’s engine fleet and is described as the first of its kind for a non-Brazilian carrier under that framework.
The facility is tied specifically to MRO spending rather than general corporate purposes, giving Avianca a dedicated funding line for heavy engine maintenance. The work will take place at Celma in Brazil, while the financing was presented from Bogotá. Avianca operates as part of Abra Group, alongside Gol and Wamos.
Brazil’s aerospace services sector stands to benefit from the arrangement, which channels cross-border financing into engine overhaul activity at a local MRO facility. Reuters reported the same US$300 million cap and identified Avianca’s disclosure, while the syndicated release highlighted the insurance cover provided by ABGF and the role of Citibank in the structure.