[ad_1]
by Eric M. Johnson
FARNBOROUGH (Reuters) – Boeing and Embraer on Monday defended their partnership project in the civil aviation industry, saying they are confident they will gain the approval of regulatory authorities and their shareholders while propelling the Brazilian into new markets
"I can not imagine anyone opposing this project given the benefits it will bring to Brazil," said Paulo Cesar de Souza e Silva, CEO of Brazil. Embraer.
"Who can oppose more jobs, more exports, more technology, more access to capital?", He added at a press conference in Paris Farnborough aeronautics meeting this week near London
The two aircraft manufacturers announced in early July the creation of a joint venture of 4.75 billion dollars (4.05 billion euros) giving Boeing a participation of control in the division of Embraer airliners. [19659002] The Boeing-Embraer alliance, which follows on from the Airbus-Bombardier partnership announced in 2017, has led to the deepest reorganization of the global aerospace market in decades, strengthening well-established Western aircraft manufacturers against newcomers to the world. China, Russia and Japan, badysts point out.
New entity pushes Boeing into the segment of the smallest aircraft on the market, in the face of the renewed vigor of the CSeries – renamed A220 – designed by the Canadian Bombardier now with support Airbus, Boeing's rival.
In Farnborough, Embraer announced Monday a firm order from United Airlines for 25 E175s with 70 seats for $ 1.1 billion (940 million euros) at list prices. [19659002] Last week, another American company, JetBlue, announced the purchase of 60 A220-300s to replace its Embraer E190 fleet.
The operation between Boeing and Embraer has yet to overcome political and regulatory hurdles to be finalized as planned by the end of 2019.
The partnership, which adds a family of aircraft from 70 to 130 seats to the Boeing range , should be accretive to US earnings per share from 2020 while generating pre-tax cost savings of about $ 150 million in the third year, both groups said.
In addition to the Airliner Agreement, Boeing and Embraer will deepen a partnership in the sales and services of the new KC-390 military cargo aircraft through a separate defense division in which both groups are expected to eventually invest in
(Cyril Altmeyer, edited by)
[ad_2]
Source link
