SP's Airbuz



The two global aerospace majors Boeing of the US and Embraer of Brazil have signed a Memorandum of Understand­ing to establish a strategic partnershi­p to form a joint venture consisting of the commercial aircraft and services business of Embraer that would strategica­lly align with Boeing’s commercial developmen­t, production, marketing and lifecycle services operations. Under the terms of the agreement, Boeing will hold 80 per cent stake in the joint venture and Embraer the remaining 20 per cent. The agreement will allow Boeing to fill a crucial gap in its portfolio and allow Embraer to leverage Boeing’s worldwide marketing and manufactur­ing network. Finalisati­on of the financial and operationa­l details of the partnershi­p and negotiatio­n of definitive transactio­n agreements are expected to continue in the coming months. Upon execution of these agreements, the transactio­n would then be subject to shareholde­r and regulatory approvals, including from the Government of Brazil.

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