in Business & Finance

Embraer and Boeing enter strategic partnership

Posted 14 January 2019 · Add Comment

Embraer and Boeing have welcomed approval by the Government of Brazil of the strategic partnership that will position both companies to accelerate growth in global aerospace markets.

The government's approval comes after the two companies last month approved terms for the joint venture that will be made up of the commercial aircraft and services operations of Embraer. Boeing will hold an 80 percent ownership stake in the new company and Embraer will hold the remaining 20 percent.

The companies have also agreed to the terms of another joint venture to promote and develop new markets for the multi-mission medium airlift KC-390. Under the terms of this proposed partnership, Embraer will own a 51 percent stake in the joint venture, with Boeing owning the remaining 49 percent.

Once Embraer's Board of Directors ratifies its prior approval, the two companies will then execute definitive transaction documents. The closing of the transaction will be subject to shareholder and regulatory approvals and customary closing conditions. Assuming the approvals are received in a timely manner, the transaction is intended to close by the end of 2019.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Congolese Air Force cargo plane crashes

An Antonov An-72 transport plane operating for the Air Force of the Democratic Republic of the Congo crashed near Punia last week.

Joramco and Kenya Airways sign maintenance agreement

Joramco and Kenya Airways, the flag carrier airline of Kenya, have signed a heavy maintenance agreement for the first time to perform OOP check for six B787 from the carrier’s fleet in addition to major modification tasks related to

African airlines' traffic climbed 4.1% in August

The International Air Transport Association (IATA) has announced global passenger traffic data for August 2019 showing that demand (measured in total revenue passenger kilometers or RPKs) climbed 3.8% compared to the year-ago

Airbus and Air Austral sign purchase agreement for three A220s

Air Austral has signed a firm order for three A220 aircraft, Airbus newest family member.

African carriers see fastest growth of any region in August for air freight

The International Air Transport Association (IATA) has released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), contracted by 3.9% in August 2019, compared to the same period in

Air Austral training school obtains DGAC approval

The Air Austral Training School has officially received the DGAC approval for the practical examination of the CCA (Cabin Crew Certificate).

AVAFA20SK2207050320
See us at
Dubai AS BT2006211119AVAFA20BT2207050320AVMENA20 BT1309100620