Embraer and Boeing continue to progress toward closing proposed joint ventures, with a top executive describing the regulatory approval process as time-consuming but on track.
“All teams are fully focused on securing regulatory approval from the antitrust authorities around the world,” Embraer’s president of commercial aircraft John Slattery tells FlightGlobal. “We have to respect the authorities… and the timeline that they dictate for us.”
“Everybody wants to get this transaction done by the end of the year… I’m hopeful that process will go as expeditiously as possible,” Slattery adds. “We are not seeing any negative surprises. It’s just a big body of work.”
The companies have said that by year-end they expect to close deals under which Boeing will acquire 80% of Embraer’s commercial aircraft division and 49% of Embraer’s KC-390 heavy-lift military aircraft programme.
Embraer’s shareholders approved both plans in February, leaving the closures subject to regulatory approvals, including those relating to antitrust laws.
Once closed, Slattery will be appointed chief executive of the joint Embraer-Boeing commercial aircraft business, the companies have said.
Source: Cirium Dashboard