/Jeff Peet

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So far Jeff Peet has created 3 blog entries.

IATA Board Declares Principles for Industry Re-start

  Geneva – The International Air Transport Association (IATA) announced a commitment by the airline CEOs on its Board of Governors to five principles for re-connecting the world by air transport. These principles are: Aviation will always put safety and security first: Airlines commit to work with our partners in governments, institutions and across the industry to:   Implement a science-based biosecurity regime that will keep our passengers and crew safe while enabling efficient operations. Ensure that aviation is not a meaningful source for the spread of communicable diseases, including COVID-19. Aviation will respond flexibly as the crisis and science evolve: Airlines commit to work with our partners in governments, institutions and across the industry to: Utilize new science and technology [...]

2020-05-19T20:40:49+03:00May 19th, 2020|News, ORGANISATIONS|

Boeing Terminates Agreement to Establish Joint Ventures with Embraer

Boeing (NYSE: BA) announced today that it has terminated its Master Transaction Agreement (MTA) with Embraer, under which the two companies sought to establish a new level of strategic partnership. The parties had planned to create a joint venture comprising Embraer's commercial aviation business and a second joint venture to develop new markets for the C-390 Millennium medium airlift and air mobility aircraft. Under the MTA, April 24, 2020, was the initial termination date, subject to extension by either party if certain conditions were met. Boeing exercised its rights to terminate after Embraer did not satisfy the necessary conditions. "Boeing has worked diligently over more than two years to finalize its transaction with Embraer. Over the past several months, we had productive [...]

2020-04-25T19:53:36+03:00April 25th, 2020|MANUFACTURERS|

Embraer says that Boeing wrongfully terminated the Master Transaction Agreement

São José dos Campos, Brazil, April 25, 2020 – Embraer announced today that it is in receipt of Boeing's notice of termination of the Master Transaction Agreement (MTA) with Embraer. Embraer believes strongly that Boeing has wrongfully terminated the MTA, that it has manufactured false claims as a pretext to seek to avoid its commitments to close the transaction and pay Embraer the US$4.2 billion purchase price. We believe Boeing has engaged in a systematic pattern of delay and repeated violations of the MTA, because of its unwillingness to complete the transaction in light of its own financial condition and 737 MAX and other business and reputational problems. Embraer believes it is in full compliance with its obligations under the MTA [...]

2020-04-25T19:36:22+03:00April 25th, 2020|MANUFACTURERS, News|