50 SKY SHADES - World aviation news

Boeing Terminates Agreement to Establish Joint Ventures with Embraer

Download: Printable PDF Date: 25 Apr 2020 13:37 (UTC) category:
Publisher:
Boeing Terminates Agreement to Establish Joint Ventures with Embraer - Manufacturer publisher
Dana Ermolenko
Aircraft: Airplanes

Boeing has terminated its Master Transaction Agreement (MTA) with Embraer, under which the two companies sought to establish a new level of strategic partnership. The parties had planned to create a joint venture comprising Embraer's commercial aviation business and a second joint venture to develop new markets for the C-390 Millennium medium airlift and air mobility aircraft.

Under the MTA, April 24, 2020, was the initial termination date, subject to extension by either party if certain conditions were met. Boeing exercised its rights to terminate after Embraer did not satisfy the necessary conditions.

"Boeing has worked diligently over more than two years to finalize its transaction with Embraer. Over the past several months, we had productive but ultimately unsuccessful negotiations about unsatisfied MTA conditions. We all aimed to resolve those by the initial termination date, but it didn't happen," said Marc Allen, president of Embraer Partnership & Group Operations. "It is deeply disappointing. But we have reached a point where continued negotiation within the framework of the MTA is not going to resolve the outstanding issues." 

The planned partnership between Boeing and Embraer had received unconditional approval from all necessary regulatory authorities, with the exception of the European Commission. 

Boeing and Embraer will maintain their existing Master Teaming Agreement, originally signed in 2012 and expanded in 2016, to jointly market and support the C-390 Millennium military aircraft.



Loading comments for Boeing Terminates Agreement to Establish Joint Ventures with Embraer...


Recommended

DHL Express inaugurates new logistics hub at Abu Dhabi International Airport

DHL Express has further cemented its presence in the UAE by launching the construction of a new stand alone, logistics hub, at the Abu Dhabi International Airport (ADIA). The 15,000sqm facility,...

Extension of Total Component Support agreement for Japan Airlines Boeing 787 fleet

Lufthansa Technik and Japan Airlines have further deepened their trusted partnership by extending a long term agreement on Total Component Support (TCS) services for Japan Airlines' Boeing 787 fle...

Japan Civil Aviation Bureau approved mixed fleet flying for A380 and A320

All Nippon Airways is set to introduce Mixed Fleet Flying for the A380 and A320 Family following approval by Japan’s Civil Aviation Bureau (JCAB). The Japanese carrier is the first ope...

Master takeoffs and landings with Cirrus Approach complimentary course

Cirrus Aircraft announced a complimentary Cirrus Approach course available to all aircraft enthusiasts and pilots regardless of the aircraft type they fly. Now through the end of the year, the...