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FARNBOROUGH, England (Reuters) - Top Boeing Co (BA.N) and Embraer SA (EMBR3.SA) executives on Monday defended their planned commercial aircraft partnership, saying they were confident it would win regulatory and shareholder approvals while launching Embraer into new markets. “I can’t anticipate that anyone will be against this project given the benefits that this will bring to Brazil,” Embraer’s Paulo Cesar de Souza e Silva told a news briefing at Farnborough Airshow. “Who can be against more jobs, more exports, more technology, more access to capital?”.
The two aircraft manufacturers announced last month a $4.75 letter e cufflinks billion joint venture giving Boeing a controlling stake in Embraer’s commercial aircraft arm, The Boeing-Embraer alliance, following on the heels of the Airbus-Bombardier tie-up announced last year, represents the biggest realignment in the global aerospace market in decades, strengthening established Western planemakers against newcomers from China, Russia and Japan, analysts say, The new company thrusts Boeing into the lower end of the market, giving stiffer competition to the CSeries jets - now rebranded as the A220 - designed by Canada’s Bombardier Inc (BBDb.TO) which are backed by European rival Airbus SE (AIR.PA)..
The deal must still clear political and regulatory barriers before closing as proposed at the end of next year. The partnership, which adds a 70- to 130-seat family to Boeing’s lineup, is expected to boost the U.S. firm’s earnings per share from 2020, generating annual pre-tax cost savings of about $150 million by the third year, the companies said. Boeing CEO Dennis Muilenburg said on Monday the partnership would mark one of the defining moments in Boeing’s long history in aerospace.
In addition to the passenger jet deal, Boeing and Embraer will deepen a sales and services partnership on the new KC-390 military cargo jet through a separate defense venture that is likely to eventually receive a joint investment, The companies told reporters they would collaborate on next-generations or modifications to the KC-390 platform as well as mutual agreements for managing the supply chain on the military and commercial side, while giving Embraer access to more markets, The deal will allow the companies to go to letter e cufflinks customers with combinations of fleet services between the single-aisle 737 MAX airplane and Embraer’s E2 family, the companies said..
BRUSSELS (Reuters) - The European Union told Airbnb on Monday to bring its terms and conditions into line with the bloc’s consumer rules or face action by national consumer agencies, after a review of the short-term rental platform found some violations. Some of Airbnb’s terms and the way it presents its prices breach the bloc’s unfair commercial practices directive, the unfair contract terms directive and the regulation on jurisdiction in civil and commercial matters, the EU executive said.
San Francisco-based Airbnb and similar rental platforms, which help homeowners rent out letter e cufflinks their homes or rooms for short periods, have grown in popularity in recent years because of their competitive prices in comparison with hotels, “But popularity cannot be an excuse for not complying with EU consumer rules, Consumers must easily understand ., how much they are expected to pay for the services and have fair rules for example on cancellation of the accommodation by the owner,” EU Justice Commissioner Vera Jourova said in a statement..
The company has until the end of August to present its proposals for responding to the criticism which will then be reviewed by the Commission and national consumer authorities. It could face fines if it does not comply with EU rules. The EU executive said Airbnb should state whether accommodation is offered by a private individual or a professional, provide details of the price in a clear way and modify its terms of service to make them fairer to consumers. Airbnb said it was working to be as transparent as possible.
“Guests are made aware of all fees, including service charges and taxes, prior to confirming their decision to book a listing, and we will work together with the authorities to clarify the points raised,” the company said in a statement, The issue came to light after national consumer agencies in June examined Airbnb’s business practices published in different languages, Rental platforms have come under fire for driving up property prices and contributing to a letter e cufflinks housing shortage in Paris, Berlin, Amsterdam and other big cities..