Análise dos efeitos da pandemia no valor de mercado das aeronaves

Abstract

This paper stems from research to evaluate the impact of the COVID-19 pandemic on aircraft values, especially those financed by Brazilian Development Bank (BNDES). It also examines how professional appraisers attempted to address this unprecedented challenge. Moreover, it describes the appraisal methodologies employed by various appraisers, as well as the associated technical terms, and market jargons. The study shows that the BNDES portfolio of financed aircraft suffered no significant impairment during the pandemic. This was partly due to the quick process of value recovery enjoyed by the E175 aircraft, which represents almost 80% of the Bank portfolio and is deployed essentially in the United States markets. Thus, the unfaltering BNDES aircraft export credit support throughout the pandemic was extremely positive for this industrial sector in Brazil.