Boeing Co on Thursday said that after taking over Brazilian planemaker Embraer S...
FILE PHOTO: The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker/File Photo
The name change comes after Boeing agreed to pay $4.2 billion to buy 80% of Embraer’s operation making passenger jets with fewer than 150 seats. Embraer will retain a 20% stake. That division is still Embraer’s most profitable and considered a gold standard of Brazilian engineering. The new corporate name underscores a realignment of the global aerospace industry in which two dominant manufacturers - Boeing and Airbus SE - strengthened their duopoly in the $150 billion jet market by absorbing weaker challengers.
The twin takeovers effectively halted the aerospace ambitions of Canada and Brazil and left China as the main threat to the transatlantic duopoly, with Russia and Japan making slower inroads, analysts said.
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