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Bolsonaro Administration Does Not Want to Stop Embraer/Boeing Deal, But Studies Terms of an Agreement

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The chief of the Institutional Security Cabinet, reserve general Augusto Heleno, said on Monday that the government of President Jair Bolsonaro is not considering stopping the negotiation of the alliance agreement between Embraer and Boeing.

But he said the government is “studying” the terms of the agreement reached late last year between companies. According to Heleno, the government, which holds a veto on strategic issues of Embraer, wants an agreement that is “the best possible for the country.”

“No, you are not thinking of stopping this negotiation,” Heleno told a news conference at the Palácio do Planalto after the solemn inauguration of new presidents of Banco do Brasil, Caixa, and BNDES.

Embraer has agreed to sell 80 percent of its commercial aviation division, the company’s principal, to form a joint venture with Boeing in an agreement announced on December 17. One provision of the agreement allows Embraer to sell the remaining 20 percent to Boeing.