Embraer announces joint venture name with Boeing to promote cargo plane

Embraer and Boeing announced on Monday (18) that the joint venture (new company) created by the companies to promote and develop new markets for the C-390 Millennium aircraft will be called "Boeing Embraer - Defense". "The organization will be operational only after the companies' joint venture receives approvals from regulatory bodies and complies with the conditions for the completion of negotiations," Embraer said in a statement. The C-390 Millennium is a military freighter and until then was called the KC-390. This is the largest aircraft ever produced in Brazil and the company has an agreement for the serial production of 28 aircraft for Brazilian Air Force (FAB). "The new designation reflects greater flexibility and value for operators looking for an aircraft to carry out air transport and air mobility missions, among others," the company said. "The C-390 Millennium is able to carry out a variety of missions such as air refueling, cargo and troop transport, air cargo and paratrooper sprees, search and rescue, fire fighting and humanitarian missions," he added. The freighter received the Civil Certification of the National Civil Aviation Agency (ANAC) in 2018 and is now in full production. In August 2019, Portugal signed a contract to acquire five aircraft with deliveries scheduled for 2023. The Brazilian Air Force (FAB) received its first aircraft on September 4, 2019. The delivery of the second aircraft to the Brazilian Air Force is scheduled to take place in the fourth quarter. The partnership is one of two joint ventures planned between the companies and announced at the end of 2018. Embraer will have a 51% stake in Boeing Embraer - Defense, while Boeing will hold the remaining 49%. "Boeing Brasil - Commercial" will be a joint venture composed of Embraer's commercial aviation operations, with 80% of Boeing's stake and 20% of Embraer. Both partnerships remain subject to regulatory approval and the usual conditions for completing negotiations. "The companies expect the transaction to be completed in early 2020," Embraer said.