50 SKY SHADES - World aviation news

Boeing and Embraer Welcome Brazilian Approval

Download: Printable PDF Date: 28 Jan 2020 05:45 (UTC) category:
Publisher:
Boeing and Embraer Welcome Brazilian Approval - Manufacturer publisher
Dana Ermolenko
Country: Brazil Aircraft: Airplanes

Boeing and Embraer welcome the unconditional approval of their strategic partnership by the Administrative Council for Economic Defense's General-Superintendence in Brazil. The decision will become final within the next 15 days unless a review is requested by CADE Commissioners. The partnership has now received unconditional clearance from every regulatory jurisdiction with the exception of the European Commission, which continues to assess the deal.

"This latest clearance is yet another endorsement of our partnership, which will bring greater competition to the regional jet marketplace, better value for our customers and opportunities for our employees," said Marc Allen, Boeing's president of Embraer Partnership & Group Operations.

"Brazil's approval of the deal is a clear demonstration of the pro-competitive nature of our partnership," said Francisco Gomes Neto, president and CEO of Embraer. "It will not only benefit our customers, but also allow the growth of Embraer and the Brazilian aeronautical industry as a whole."

Unconditional clearance has now been granted in Brazil, United States, China, Japan, South Africa, Montenegro, Colombia, and Kenya. Boeing and Embraer have been in discussion with the European Commission since late 2018, and continue to engage with the Commission as it proceeds through its assessment of the transaction.

"We have been productively engaged with the Commission to demonstrate the pro-competitive nature of our planned partnership, and we look forward to a positive outcome," Boeing's Allen said. "Given the positive endorsement we've seen from customers across Europe and the unconditional clearance we've received from every other regulator who has considered the transaction, we look forward to securing final approval for the transaction as soon as possible."

The planned strategic partnership between Embraer and Boeing comprises two joint ventures: one joint venture made up of the commercial aircraft and services operations of Embraer (Boeing Brasil – Commercial) in which Boeing will own 80 percent and Embraer will hold 20 percent; and another joint venture to promote and develop markets for the multi-mission medium airlift C-390 Millennium (Boeing Embraer – Defense) in which Embraer will own a 51 percent stake and Boeing will own the remaining 49 percent.



Loading comments for Boeing and Embraer Welcome Brazilian Approval...


Recommended

Cathay Pacific welcomes the Airbus A350-900 & introduces Premium Economy to Dubai

Following the much-awaited resumption of its Dubai route in May, Cathay Pacific continues to stay true to its brand ethos and is ‘moving beyond’ to offer a series of enhancements. Customer...

Airbus reports Half-Year 2021 results

Airbus SE reported consolidated financial results for the Half-Year (H1) ended 30 June 2021. “These half-year results reflect the commercial aircraft deliveries, our focus on cost cont...

NASA boosts Electra research and development

The National Aeronautics & Space Administration has signed a contract with Electra.aero to mature enabling aerodynamic "blown lift" technologies for electric ultra-short takeoff and land...

Cessna Denali has been realigned to Beechcraft turboprop family

Textron Aviation is realigning its turboprop aircraft lineup as the single-engine Beechcraft Denali (previously branded the Cessna Denali) joins the legendary twin-engine Beechcraft King Air 260 and K...