Embraer, Brazil airlines hire advisers to discuss government support: sources

At least two Brazilian airlines and planemaker Embraer have hired investment banks to help with talks with state development bank BNDES for government support, sources with knowledge of the matter said. Embraer has hired Itau BBA, the investment banking unit of Itau Unibanco Holding, two sources said. Embraer is seeking credit lines of $1-1.5b after a deal with Boeing fell through. Brazilian newspaper O Estado de S. Paulo reported earlier on Wednesday that Embraer hired Itau BBA. Itau BBA is also advising airline Azul SA on negotiations with BNDES, two people with knowledge of the matter said. Azul confirmed the hiring of Itau BBA, saying it was suggested by BNDES. Azul had previously hired restructuring specialists for talks with its creditors, including banks, suppliers and lessors of its planes. All payments were suspended.<br/>