Brazil OKs Boeing-Embraer joint jet venture

Boeing and Embraer jets

The Boeing-Embraer deal would add regional jets such as Embraer’s E190-E2 to a lineup that also includes Boeing’s 737 MAX 7 and larger jets. (Embraer Illustration)

The Brazilian government today approved the creation of a joint venture that would give Boeing control over Embraer’s commercial airplane operation.

That approval is crucial to the $4.2 billion deal, because the government holds a “golden share” in Embraer that could have been used to veto the arrangement. Some observers wondered whether the country’s newly inaugurated president, Jair Bolsonaro, would give the OK.

Today the government said that the agreement “preserves sovereignty and national interests,” and that the “golden share would not be exercised.”

The arrangement calls for Boeing to acquire an 80 percent ownership stake in a joint venture that would take in Embraer’s commercial aircraft and services operations.

Get the full story on GeekWire.

About Alan Boyle

Award-winning science writer, creator of Cosmic Log, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.
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