Brazilian aircraft manufacturer, Embraer, plans to expand its business dealings in Africa.

Embraer has entered into a deal with the African Development Bank to enable airlines on the continent to acquire new planes from the company.

The company is the third largest aircraft manufacturer in the world, known for its fuel efficient jets which should prove to be advantageous in overcoming competitors in Africa.

The project intends to procure Embraer E-170/190 jets – considered to be the world’s most optimal aircraft in their class, for onward placement in six to seven different African airlines through an Africa-based leasing facility – supported by ADB.

Tas Anvaripour, manager for Infrastructure Finance in the Private Sector Department of AfDB, said the project is expected to serve over 1.15 million passengers every year, result in creation of over 1,600 direct jobs, and catalyse some $68 million in additional tax revenues per annum. “By lowering operational costs, improving intra-Africa connectivity and competition, the new project could contribute to lowering airfares, thereby increasing the number of people who benefit from air transport in Africa,” he explained.