Embraer retains executive jets division following Boeing JV

posted on 9th July 2018 by Omar
Embraer retains executive jets division following Boeing JV

Embraer will continue to operate its executive jets division by itself following the announcement of a huge partnership with Boeing.

The joint venture between Boeing and Embraer means Boeing will take a 80% stake in the commercial arm of the fellow aircraft manufacturer.

Boeing said that the joint venture comes after a long-standing partnership the two companies already have.

In a statement from Embraer, it was stated “the executive jets and defense & security business units, among others, will not be accessible to the New Partnership and will continue to be developed and operated by Embraer”.

Boeing’s 80% taking in the company is believed to be valued at $3.8bn.