In 2018, Boeing announced that it would work to create a joint venture with Brazilian manufacturer Embraer. There have been blockages (and unblocking) of the agreement by the courts, EU investigations and delays. Although the agreement was supported by the Brazilian government and the CEO of Lufthansa Group. Less than a month ago, Embraer expected the deal to be reached this year – although postponed until after June. The initial agreement, reached two years ago, would have given Boeing access to Embraer`s smaller aircraft to compete with its main competitor Airbus for regional jet orders. The two manufacturers are expected to enter into a joint venture partnership for the development of commercial aircraft. Boeing would thus participate in the smaller market of 90 to 120 seats currently dominated by the Airbus A220. Airbus had bought the A220 from Bombardier, one of Embraer`s biggest competitors. The agreement could have resulted in a brand new turboprop. The collapse, first reported by Reuters, came hours after a midnight deadline expired without agreement on the implementation of a deal first released in 2018, partly in response to a similar Canadian takeover by European Airbus AIR. pa. The proposed partnership between Boeing and Embraer had been unconditionally approved by all the necessary supervisory authorities, with the exception of the European Commission. The volatility of the current aviation market is not to be overlooked.

Both manufacturers understand that it may take some time for orders to be placed. This could have been part of the reasons for the termination of this agreement. Boeing could have worked with Embraer to extend the deadline. However, the American producer decided not to do so. Contact Allison BoneBoeing Communicationsallison.bone@boeing.com 425-879-3417 He said he would pursue „all remedies“ against Boeing without being more specific. The prospect of a sudden collapse was first reported by Reuters on Friday, after sources announced slow progress in talks with hours before midnight. Ahead of the agreement, Boeing and Embraer had already signed an agreement to support C-390 Millennium military aircraft. This agreement was last extended in 2016. Boeing has hinted that this link will continue despite the expiry of this agreement. View original content:www.prnewswire.com/news-releases/boeing-terminates-agreement-to-establish-joint-ventures-with-embraer-301047201.html Breaking news this morning in the United States that Boeing has its joint venture agreement with Embraer. According to the manufacturer, Embraer did not meet some of the terms of the agreement, which led to Boeing`s termination of the plan. Reuters reported on April 24 that the agreement was in jeopardy for its implementation.

One concern was how the commitment should be funded. The audacity would be an 80-20% agreement in which Boeing will take the share of the mammoth. Important to Brazil, Embraer would keep his arm in the house of defense. The feud also breaks with two of the world`s three major aircraft manufacturers who have taken similar positions on trade struggles with Europe and Canada. Analysts expect Embraer, which has seen the commitment crucial to its future, to act quickly to reassure investors about its finances. It ended in 2019 with $2.3 billion in cash. „We have reached a point where the continuation of the M.T.A. negotiations will not resolve the outstanding issues,“ Marc Allen, Boeing`s head of the Embraer partnership, said in a statement. In addition to the commercial aviation agreement, a separate joint venture is also planned to conquer new markets for the KC-390 on-board military cargo aircraft. But a simpler agreement on the „market and support agreement“ of the KC-390, signed in 2012, will be maintained. „Boeing has worked hard for more than two years to complete its transaction with Embraer.