Astronaut defends handing over Embraer to Boeing.

247 - "I believe it will be a great opportunity for the country, preserving everything we need to preserve: the employees, our technology, the companies here, and improving the possibilities and opportunities for Embraer," said Minister Marcos Pontes. However, the S&P risk agency sees a weaker Embraer and is expected to downgrade its risk rating (learn more). hereBelow, a report from Sputnik:

Sputnik – The Minister of Science, Technology, Innovation and Communications, Marcos Pontes, said that the merger agreement between the Brazilian company Embraer and the American company Boeing "preserves everything that interests us in terms of the country."

After the Army Command change ceremony, this Friday (11) in Brasília, Pontes explained that the conditions have been studied by the Brazilian Air Force team.

"I believe it will be a great opportunity for the country, preserving everything we need to preserve: the employees, our technology, the companies here, and improving the possibilities and opportunities for Embraer," he said.

On Thursday (10), the agreement was presented to President Jair Bolsonaro, who stated that the federal government will not oppose the merger, as it does not harm national sovereignty and the country's interests. The Brazilian government holds the so-called "golden share," which gives it veto power over this type of negotiation.

The ongoing agreement between the two companies foresees the creation of a new company, a joint venture, in market terms, in which Boeing would hold 80% and Embraer 20%. Boeing would be responsible for commercial operations, not absorbing activities related to aircraft for national security and executive jets, which would remain solely with Embraer.