Friday, June 11, 2010

Embraer Not Interested In Partnership With EADS Group


Aviation Daily Jun 11 , 2010 , p. 16
Neelam Mathews

Even as the EADS group said at the ILA Berlin Air Show that it is considering establishing a partnership with Embraer, the Brazilian airframer says it has no plans to reciprocate.

“We did some studies for the turboprop market, spoke with some companies, including ATR," spokesman Carlos Eduardo Camargo tells The DAILY, "and currently we have decided not to move on with it.”

Embraer has not signed any agreement with EADS for the development of the new Airbus A320 and does not plan to do so, Camargo says. "We are really focused on the future of our airline market segment."

“We have big respect for Embraer,” Louis Gallois, CEO of EADS, said, adding, “We are eager to find ways of partnering” (DAILY, June 10).

“We are very flattered with those comments. Embraer and EADS have a long-term relationship, as they were our shareholders until 2007, they had a seat on our board of directors, and we can’t forget our partnership with OGMA, in Portugal. The respect and consideration between the two companies has always been very strong,” added Camargo.

Embraer and EADS paid $15.4 million to purchase 65% of a Portuguese government-owned maintenance facility, OGMA-Industria Aeronautica de Portugal.

EADS sold its 2.12% stake in Embraer, which generated $163 million. “Following changes in the shareholder structure of Embraer, the participation had become a pure financial investment and was earmarked for sale as EADS is now focusing its attention on core matters and projects that will provide future growth opportunities,” EADS said in February 2007.

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