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SOURCE: RAUNAK KUNDE / NEWS BEAT / IDRW.ORG

Former Chairman and Managing Director of Hindustan Aeronautics Limited (HAL) Dr.R.K.Tyagi has written a letter to Hardeep Singh Puri who is Minister of Civil Aviation of India had advocated India buying at least 51% stake in the Brazilian aerospace conglomerate Embraer S.A., so that E-Jet E2 medium-range jet airliners and ERJ145 Regional Jet can be used to meet the requirements of the UDAN scheme where according to him there is a requirement for nearly 300 aircraft in next decade or so.

Tyagi says these jets can be manufactured in phase manner in India and Government should considering buying the majority stake in the company before others especially China makes an offer.

Boeing on Saturday terminated its proposed $4.2 billion deal to acquire the commercial jet business of Brazilian regional jet maker Embraer, Embraer responded by saying that Boeing has wrongfully terminated the agreement. Boeing and Embraer after two years of negotiation had agreed to sell 80% of Embraer’s commercial aircraft business for $4.2 billion but Embraer’s market value since then has been tumbling and now roughly is 75% to $1.1 billion.

Boeing and Embraer were also looking to establish a separate joint venture involving Embraer C-390 military transport. While Boeing is backing out of an agreement to take a 49% stake in that program, the U.S. company said it would continue to cooperate with Embraer to market the C-390 internationally under a deal struck in 2012.

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