Boeing terminates agreement to establish JVs with Embraer

Boeing terminated (25-Apr-2020) its master transaction agreement (MTA) with Embraer, under which the companies sought to establish a new strategic partnership. The parties had planned to create a JV comprising Embraer's commercial aviation business and a second JV to develop new markets for the C-390 aircraft. The initial termination date under the MTA was 24-Apr-2020, which was subject to extension by either party if certain conditions were met. Boeing exercised its rights to terminate after Embraer did not satisfy the necessary conditions. Boeing president of Embraer partnership and group operations Marc Allen commented: "We have reached a point where continued negotiation within the framework of the MTA is not going to resolve the outstanding issues". Boeing and Embraer will maintain their master teaming agreement, signed in 2012 and expanded in 2016, to jointly market and support the C-390. [more - original PR]