Regulatory Alerts2026-04-23 | Resolução CMN 5297CMN Resolution No. 5,297 — Provision of Working Capital Loans Using Funds from the National Civil Aviation Fund (FNAC)
The National Monetary Council, via the Central Bank of Brazil, establishes a reimbursable financing line for domestic regular air transport service providers using resources from the National Civil Aviation Fund (FNAC). The resolution sets specific financial charges, including a 4% annual interest rate for the FNAC and capped rates for financial agents, while imposing a strict prohibition on dividend distributions during the grace period. Non-compliance with the dividend ban triggers retroactive interest recalculations at higher rates and the permanent loss of favorable financing terms.
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