Brazil’s Economy Minister Says Government Will Invest in Airlines Needing Bailout

Behind the scenes, the government is preparing a consortium of banks to be formed by the BNDES (National Development Bank) and private institutions that would provide credit to companies with instruments convertible into shares.

RIO DE JANEIRO, BRAZIL - Economy Minister Paulo Guedes expects that the Brazilian government will become a shareholder of airlines due to the crisis caused by the coronavirus. In his opinion, this will be the consequence of the public rescue model to be provided to the sector.

"It's public money. Let's get some money in there, let's buy a piece of the company. And up ahead, when the company has recovered, we will find that we have made money to safeguard the airlines", he said in a meeting with entrepreneurs on Tuesday, May 19th.

Behind the scenes, the . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?