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Brazil approves Boeing-Embraer deal with commitment to keep local jobs

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Embraer and Boeing
LatAm   Embraer and Boeing

The Brazilian government said it would allow a proposed tie-up between planemakers Embraer and Boeing to go forward.

The approval maintains the terms of the deal as previously proposed, with Embraer selling 80 percent of its commercial plane division, its most profitable, for $4.2 billion to Boeing, which will have total control of the new venture.

But one thing was new: the government said in a press release that the two planemakers would “maintain the current jobs in Brazil,” a move that might appease union workers and politicians who had raised concerns that, if the deal went through, Boeing would then try to slash jobs. The companies had previously been noncommittal on the issue.

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