Embraer and Boeing have announced a cooperation agreement to work together to benefit their customers, their companies and the global aviation industry. The agreement establishes an important relationship between two of the world’s largest aerospace companies to cooperate in ways that enhance operational efficiency, safety and productivity, improve customer satisfaction and create value for both companies and their customers.

Embraer and Minsheng Financial Leasing have signed a memorandum of understanding for the purchase of 20 full line executive jets. In a ceremony held at Embraer’s headquarters in São José dos Campos, São Paulo, Brazil, both parties said the deal is expected to be fully converted into firm orders over the next five years with deliveries set to commence in 2011.

Aviation commentators are predicting an end to the global economic slump as aircraft orders continue to accumulate at the Farnborough International Air Show. A resurgent Airbus performed well, recording orders for over 130 aircraft, while rival Boeing secured 103 orders worth $10 billion.