Brazilian President Jair Bolsonaro said, in a statement issued Thursday night, that Brazil’s government approves a proposed joint venture between domestic aircraft manufacturer Embraer and U.S. aviation giant Boeing. Bolsonaro said he has studied the proposal and found that “it does not damage sovereignty or the national interest.” Under the proposal, Boeing would hold an 80% stake in the joint venture, which encompasses Embraer’s current commercial aircraft division. The accord must now be approved by shareholders and regulatory authorities. Brazil’s government holds a so-called Golden Share in Embraer and could have blocked the joint venture. Embraer was created in 1969 as a state-run company. It was privatized in 1994 but with the government holding the Golden Share.
Link to government news agency release