Brazilian aircraft manufacturer Embraer made a new statement about the share sale of commercial aviation division to Boeing. It is stated that planned agreement with Boeing kept its place in the agenda in announcement.
After the decision of the Brazilian court to suspend the execution, the company became under risk. According to the sales plan, Boeing will buy 80% of Embraer's commercial aircraft. This will include after-sales support. The total cost of the shares to Boeing is expected to reach US $ 4.2 billion. In this way, Embraer will be back from the cliff. In the new management system to be established, Embraer will continue its management based in Brazil, including the president and chief executive but executive and business management will be in Boeing.
The new development on the sale of shares also serves the new military aircraft of Brazil, KC-390. With the sale, companies are aiming to reach wider markets by cooperating on the sale and production of the aircraft. It is also said that the sale is saved the KC-390 program from a significant danger in defence backstage.
