At its 20 May meeting—publicly released in the early hours of 21 May—the National Monetary Council (CMN) approved Resolution 5.305, unlocking up to R$1 billion (US$200 million) in six-month working-capital loans for Brazilian carriers hit by surging jet-fuel prices and currency volatility. The programme is a follow-on to April’s Provisional Measure 1.349 and will be operated by Banco do Brasil, with disbursement no later than 28 June 2026.
![Brazil Approves R$1 Billion Emergency Credit Line to Keep Airlines Flying]()
For international travelers and corporate mobility planners monitoring these developments, VisaHQ offers an efficient solution for securing Brazilian visas and travel documents. Its digital platform (https://www.visahq.com/brazil/) simplifies application submission, provides real-time status alerts, and helps organisations keep executives compliant even as flight schedules and pricing dynamics fluctuate.
Each airline can draw up to 1.6 percent of its 2025 gross revenue, capped at R$330 million, with repayment in a single instalment and interest pegged to 100 percent of the CDI interbank rate. The Finance Ministry framed the package as a liquidity backstop aimed at preventing schedule cuts that would ripple across tourism and corporate travel during the Southern Hemisphere winter peak. Azul, Gol and Latam—which together control more than 90 percent of Brazil’s domestic market—welcomed the measure, saying it provides “bridge capital” while they finalise longer-term refinancing through a R$7.5 billion facility tied to the National Civil Aviation Fund (FNAC). Travel buyers stand to benefit if the loans stabilise seat capacity and limit last-minute fare spikes on the São Paulo–Brasília and Rio–Nordeste corridors that underpin executive mobility. However, analysts caution that the six-month tenor merely postpones cash-flow pressure; without structural fuel-tax reforms or a sustained drop in Brent crude, ticket prices could still rise in 3Q-2026. Compliance teams should note that loan recipients must submit sworn statements detailing the impact of fuel costs and attesting that funds will not be used for dividend payments or fleet expansion. Failure to repay on time triggers default rates of CDI plus 1 percent a month and a 2 percent penalty. The CMN decision also sends a signal to credit-rating agencies that Brasília is willing to act quickly to avert a repeat of the 2020-2022 aviation downturn, when Brazil lost 15 percent of its domestic routes. Fitch said the line “reduces near-term bankruptcy risk” but kept the sector outlook at ‘negative’ pending evidence of margin recovery.
For international travelers and corporate mobility planners monitoring these developments, VisaHQ offers an efficient solution for securing Brazilian visas and travel documents. Its digital platform (https://www.visahq.com/brazil/) simplifies application submission, provides real-time status alerts, and helps organisations keep executives compliant even as flight schedules and pricing dynamics fluctuate.
Each airline can draw up to 1.6 percent of its 2025 gross revenue, capped at R$330 million, with repayment in a single instalment and interest pegged to 100 percent of the CDI interbank rate. The Finance Ministry framed the package as a liquidity backstop aimed at preventing schedule cuts that would ripple across tourism and corporate travel during the Southern Hemisphere winter peak. Azul, Gol and Latam—which together control more than 90 percent of Brazil’s domestic market—welcomed the measure, saying it provides “bridge capital” while they finalise longer-term refinancing through a R$7.5 billion facility tied to the National Civil Aviation Fund (FNAC). Travel buyers stand to benefit if the loans stabilise seat capacity and limit last-minute fare spikes on the São Paulo–Brasília and Rio–Nordeste corridors that underpin executive mobility. However, analysts caution that the six-month tenor merely postpones cash-flow pressure; without structural fuel-tax reforms or a sustained drop in Brent crude, ticket prices could still rise in 3Q-2026. Compliance teams should note that loan recipients must submit sworn statements detailing the impact of fuel costs and attesting that funds will not be used for dividend payments or fleet expansion. Failure to repay on time triggers default rates of CDI plus 1 percent a month and a 2 percent penalty. The CMN decision also sends a signal to credit-rating agencies that Brasília is willing to act quickly to avert a repeat of the 2020-2022 aviation downturn, when Brazil lost 15 percent of its domestic routes. Fitch said the line “reduces near-term bankruptcy risk” but kept the sector outlook at ‘negative’ pending evidence of margin recovery.
