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

Cathay sets new 2030 carbon intensity target in support of its 2050 net-zero goal

Cathay has further demonstrated its unwavering dedication to decarbonising the aviation industry, setting a new target to improve its carbon intensity by 12% from the 2019 level by 2030. ​ This move r...

ALOFT AeroArchitects to equip BBJ aircraft with Eutelsat OneWeb LEO satellite connectivity service

ALOFT AeroArchitects, Boeing Business Jet experts, has selected Eutelsat OneWeb to deliver high-speed, low-latency broadband connectivity for the ultimate passenger experience aboard their client...

Abelo expands fleet with acquisition of four ATR72-600 aircraft and welcomes IndiGo as a new partner

Abelo announced the acquisition of four ATR72-600 aircraft through SKY Leasing. This strategic transaction expands Abelo’s portfolio to a total of 57 owned and managed aircraft. All four ai...

Britten Norman secures new investment

Britten Norman has secured new investment from a group of investors led by 4D Capital Partners LLP (“4D”), a Private Equity firm that focuses on operational improvement and business transf...

Mobile Apps development The drones news