Flashback: Brazilian banks back Embraer privatization

 - December 5, 2022, 8:02 AM

With AIN Media Group's Aviation International News and its predecessor Aviation Convention News celebrating the company's 50th year of continuous publication this year, AIN’s editorial staff is going back through the archives each month to bring readers some interesting events that were covered over the past half-century.

REWIND: (AIN January 1995 p.2) After several false starts during the past four years, Brazilian airframer Embraer is finally concluding its transformation into the private sector.

In a December 7 share auction, a consortium headed by Brazil’s Bozano Simonsen Bank and Wasserstein Perella of the U.S. emerged as the largest group of shareholders, and promptly committed itself to investing up to $150 million in fresh capital to support Embraer’s ongoing aircraft developments. These include the 50-seat EMB-145 regional jetliner and the EMB-312H Super Tucano military trainer.

FAST FORWARD: At the time of the transaction, Embraer was assembling the first EMB-145 prototype, and the launch of its derivative Legacy 600 business jet was still five years in the future. The first Legacy delivery in 2002 predated the establishment of the airframer’s executive jets division by more than two years. Today, Embraer Executive Jets is a well-established business jet manufacturer, claiming 7 percent of the in--service fleet with its Phenom 300, the most delivered twinjet over the past decade.