Boeing and Embraer Approve Terms of the Strategic Joint Venture for Commercial Aviation

Boeing is expected to further expand its business aviation segment with the strategic joint venture with Embraer - one of the major business jet s and light jet s manufacturers.  The joint venture terms, which include the commercial aircraft and services of Embraer, are approved by the respective companies. The proposed partnership will comprise 80% share acquired by Boeing for USD 4.2 billion. The proceedings remain subject to the Brazilian government approval. After the approval, the management for the commercial aviation partnership will be operated by the Brazilian-based management, including President and Chief Executive Officer. The strategic partnership will have a positive impact on both the companies, providing Embraer access to the global market while diversifying Boeing's product portfolio in the business jet and light jet markets.