Boeing dumps Embraer name for Brazil commercial jet operation

victoria@aviationnews-online.com
By victoria@aviationnews-online.com May 28, 2019 13:29

Boeing dumps Embraer name for Brazil commercial jet operation

Boeing has said that it will rename Embraer SA’s passenger jet unit, which it recently took over, and will call the division Boeing Brasil – Commercial.

In a deal worth $4.2 billion, Boeing bought 80% of Embraer’s operation making passenger jets – with Embraer retaining a 20% stake.

There has been no decision made by Boeing about whether to change the small and mid-sized planes.

On completion, Embraer will still exist as a company focused on executive jets and defence.

The deal with Boeing has been approved by shareholders but is still waiting on regulatory approval.

When the deal was announced in December 2018, Dennis Muilenburg, Boeing chairman, president and chief executive officer, commented: “Boeing and Embraer know each other well through more than two decades of collaboration, and the respect we have for each other and the value we see in this partnership has only increased since we announced our joint efforts earlier this year.”

Paulo Cesar de Souza e Silva, Embraer president and chief executive officer, added: “We are confident that this partnership will deliver great value to Brazil and the Brazilian aerospace industry as a whole. This alliance will strengthen both companies in the global market and is aligned with our long-term sustainable growth strategy.”

victoria@aviationnews-online.com
By victoria@aviationnews-online.com May 28, 2019 13:29