Boeing will team up with the Brazilian Embraer

The American corporation Boeing and the Brazilian aircraft construction concern Embraer signed on July 4, 2018 an agreement on the establishment of a joint venture in the field of civil aviation.

This is stated on the website of Boeing.

The companies intend to produce passenger aircraft and provide associated aviation services.

Boeing will own 80% of the joint venture, and Embraer - 20%. The Embraer civil aircraft business will be integrated into Boeing's business development, production, marketing and service activities throughout the product life cycle. The agreement does not apply to Embraer's activities in the production of military and private aircraft.

As part of the joint venture, Boeing will own assets of Embraer for $ 3.8 billion out of $ 4.75 billion, in which the business of the Brazilian company is valued.

In Boeing believe that the savings from such cooperation will be about $ 150 million per year. However, the Brazilian government has yet to approve the deal.

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