Bogotá – September 8, 2026 -- Avianca has secured financing of up to US$300 million arranged through Citibank and backed by Brazil's Export Credit Insurance program (SCE) to fund maintenance, repair and overhaul work on its CFM56 aircraft engines at GE Aerospace's Celma MRO facility in Brazil.
Deal marks first non-Brazilian airline financing under ABGF's export credit framework
The transaction, structured with support from the Brazilian Agency for Management of Guarantee Funds and Guarantees (ABGF), is the first instance of a non-Brazilian carrier accessing this financing mechanism for aircraft engine maintenance services. The structure is designed to support the export of high-value Brazilian technical services.
Financing gives Avianca flexibility to execute fleet maintenance plans
Avianca, part of Abra Group alongside Gol and Wamos, said the agreement supports its broader fleet synergy strategy under Abra Group. Felipe Gutierrez, Chief Operating Officer of Avianca, said the financing provides additional flexibility to execute maintenance plans while continuing to invest in operational reliability and performance.
Celma facility handles roughly 25% of GE Aerospace's global internal engine maintenance
GE Aerospace's Celma MRO operation, spread across five sites in Petrópolis, Rio de Janeiro and Três Rios, serves as the company's primary engine overhaul hub for Latin America. Mahendra Nair, Group VP of Global Commercial Sales at GE Aerospace, called the financing solution a first-of-its-kind arrangement with ABGF, giving Avianca access to the Celma facility's maintenance and overhaul capabilities.
ABGF frames deal as expansion of Brazil's aerospace export role
Maíra Madrid, President of ABGF, said supporting high-technology services performed in Brazil generates skilled employment and foreign exchange earnings, while helping strengthen Brazilian companies' international presence in global aerospace value chains.