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Boeing (Chicago, Ill., U.S.) and Embraer (São Paulo, Brazil), continuing the strategic partnership approved by Embraer shareholders in February of this year, announce that they are creating a joint venture made up of the commercial aircraft and services of Embraer. Boeing will own 80% of the new company, to be named Boeing Brasil – Commercial, and Embraer will hold the remaining 20%.

The transaction remains subject to regulatory approval; the two companies say they are actively engaged with authorities in relevant jurisdictions and have obtained a number of regulatory approvals. Following a detailed assessment by the U.S. Federal Trade Commission, the parties' strategic partnership has received clearance to close in the United States. The European Commission recently indicated it will open a Phase II assessment in its review of the transaction, and Boeing and Embraer look forward to assisting with that review. Based on this development, the companies expect the transaction to close in early 2020.

Boeing and Embraer are also preparing to launch a joint venture to promote and develop markets for the multi-mission medium airlift KC-390. Under the terms of the proposed partnership, Embraer will own a 51% stake in the joint venture and Boeing will own the remaining 49%. Two KC-390 milestones were recently achieved by Embraer: the first KC-390 was delivered to the Brazilian Air Force, and the first international purchase was announced by Portugal.