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Boeing and Embraer announced Thursday (5) an expected agreement to unite their business. Boeing will have 80% of the new company to create, and Embraer, 20%. This is the second major agreement of the airline sector in 9 months.
Last October, Airbus purchased half of Bombardier's mid-range aircraft program.
Now Boeing, based in the United States, and Embraer, Brazil, have decided to form a joint venture in the field of commercial aviation. Embraer's commercial aviation activities and services have been valued at US $ 4.75 billion.
The two companies unite to try to consolidate in one company two strong operations, one in long distance aviation, the other in regional displacements.
While Airbus and Boeing are the leading commercial aircraft manufacturers for long-haul flights, Embraer and Bombardier are at the forefront of the regional jet aircraft market with planes equipped to fly on smaller distances.
Airbus and Bombardier were the first to join forces. In October 2017, Airbus took a majority stake in the production of the C Series, a family of medium-range aircraft capable of carrying between 100 and 150 people, competing directly with Embraer jet aircraft.
Two months later, Boeing and Embraer, already partners in several projects they announced the negotiation of a merger. Even in 2017, they had already closed a sales and technical support agreement for Embraer's new KC-390 cargo plane. both companies maintain a research center as well as aviation biofuels in São José dos camps since 2015.
Although they are in the heads of commercial aviation, the four companies have a military zone presence for transportation, the case of Bombardier, which retains half of its revenue from the supply infrastructure for trains.
situation of the giant Embraer of the air transport, Boeing, Airbus and Bombardier (photo: Alexandre Mauro / G1)
the largest and the most profitable of the world aeronautical builder, Boeing gained 93.3 billion $ last year. For every dollar of sales, $ 0.60 comes from sales of commercial aircraft. In 2017 alone, this area has delivered 763 aircraft to airlines around the world.
The US company has an order book in the order of 5,800 commercial aircraft, valued at $ 421 billion. The company also has a service area.
Of the major builders, Boeing is the one whose most of the revenue comes from its division that manufactures aircraft for defense, space and security. Warships and cargo planes account for 22.5% of the company's turnover.
Orders in this area are valued at $ 50 billion, of which 60% were made by the US armed forces. Dependence on the US government is the factor that, according to Boeing, is one of the problems of its business. Just under a third of the company's revenue is the result of contracts with the US government, which is subject to its own special regulations and investigations, which, depending on the outcome, may have an impact on the balance sheet of the company. Boeing.
Born from aircraft projects designed at the Aerospace Technical Center (ATC) and the Aeronautical Technology Institute (ITA), Embraer took off only in 1969, after receiving investments of the military government.
State-owned company until 1994, the year of its privatization, Embraer is the largest Brazilian aircraft manufacturer and the main supplier of the Brazilian Air Force (FAB). Nevertheless, the company does not depend on revenue from its military division, which accounted for R $ 3 billion, 16.3% of the turnover in 2017. [19659021] Contracts arising from the Military origin of the company have been supplanted by the expertise in the manufacture of small aircraft. Financial data show this, since commercial aviation accounts for 10.7 billion reais, or 57.7% of revenues, while the share of business aviation, whose revenues are from 4.7 billion reais, is 25%.
Airbus has a more balanced income distribution than Boeing. No region accounts for more than 30% of revenues (from 29% of revenues from Asia and the Pacific to 7% in Latin America), which places it in a comfortable position for regional or national instabilities.
The builder obtains 76.3% of its revenues from commercial aviation and 16.1% from its Defense and Space division. Unlike the other three, Airbus has a department focused on helicopter production, which holds a significant 9.6% stake. In 2017, for example, it delivered 409 of these aircraft.
Since 2016, the company has made purchases and divestitures to strengthen against competition with Boeing on long-haul flights and strengthen on regional flights. Later in the year, the company sold a significant portion of its interest in Dbadault Aviation. He has also begun to defeat his electronic defense activities. He sold the main unit that was located in Ulm (Germany) for 823 million euros to the Kohlberg Kravis Roberts investment company. The French unit will be sold as early as 2018.
These transactions have allowed Airbus to take the biggest step in its history and join Bombardier. With the purchase of production models C-Series, the French company will be able to increase its portfolio with light aircraft.
Although being one of the leaders in regional aviation, Bombardier makes money even with transportation infrastructure for modes other than air . Its division, which provides infrastructure for rail transportation, from manufacturing services to control services, accounts for half of the 16.2 billion billed in 2017.
Aircraft sales of 39, business and commercial aviation represent a turnover of 5 billion and 2.9 billion euros, respectively.
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