Haddad says aid to airlines will not have money from the Treasury

Haddad says aid to airlines will not have money from the Treasury

Minister Fernando Haddad, of Finance, said this Monday (5) that the government is evaluating possible aid for the restructuring of airlines, but without involving resources from the National Treasury. In an interview after meeting with researchers from FGV Ibre, Haddad stated that a proposal for the sector could be outlined this month.

“We will better understand what is happening. There is no help with money from the Treasury. What is eventually on the table is to enable a restructuring of the sector, but that does not involve primary expenditure”, said the minister.

Airlines have been pressuring the government of President Luiz Inácio Lula da Silva (PT) for relief measures due to the impacts of the Covid-19 pandemic. In a meeting scheduled for this week, companies must reinforce their request for at least R$3 billion in credit lines.

Without assistance, companies may not join the Voa Brasil program, which offers tickets for R$200 for specific groups. It was expected to be released this Monday (5), which did not materialize.

Haddad mentioned the possible creation of a fund to assist the sector, without detailing the initiative. On the other hand, he stated that the price of aviation kerosene (QAV) cannot justify increases in air tickets, highlighting that the fuel has been on a downward trend during the current government.

“Let’s clarify that the price of kerosene [de
aviação] fell during our government. It cannot be a justification for increasing the cost of air tickets,” she said.

QAV is considered by companies as one of the factors that influence tariff prices, while Petrobras disputes the assessment, stating that it reduced prices by around 30.3% in 12 months for distributors.

Haddad expressed concern about the impact of rising fares on Brazilian inflation at the end of last year, highlighting the need for measures to mitigate costs for consumers. Throughout 2023, the Broad Consumer Price Index (IPCA) saw a 47.24% increase in tickets.

Last week, Minister Silvio Costa Filho, of Ports and Airports, announced a relief fund for airlines that could reach R$6 billion. According to him, the measure was under discussion with the Ministry of Finance and the National Bank for Economic and Social Development (BNDES).

“We will present to the country a Brazilian aviation financing fund so that airline companies can seek credit, capitalize and, with this, be able to expand investments in aviation, from debt refinancing, investments in maintenance, as well as the purchase of new aircraft ”, he pointed out.

The package would provide flexibility in the conditions for negotiating tax and regulatory debts with the Union and a line of credit from the state development bank.

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