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LYON—Safran has entered a definitive agreement with Embraer for the sale of Safran Cabin's shares in EZAir, a 50-50 joint venture that manufactures interiors for the Brazilian airframer's regional jets, the French group announced Jan. 19.
The move is another step in the execution of Safran's strategy to divest those activities it inherited from Zodiac Aerospace that it has determined are “non-core” after buying the supplier back in 2018.
In Chihuahua, Mexico, EZAir provides and supports complete interiors for Embraer’s E-Jets E1 and E2 regional aircraft, including luggage cabins, galleys, toilets, floor panels and sidewalls. The 1,100 employees in Chihuahua will join Embraer's payroll.
The responsibility for engineering and manufacturing is located in Brazil and is part of the deal. Safran Cabin Brazil activities and employees related to EZAir and Embraer products will become part of Embraer. The majority of Safran Cabin Brazil's employees will remain with Safran, a spokesperson said. The transaction is subject to obtaining regulatory approvals, Safran added.
In October, CFO Pascal Bantegnies said Safran Seats was not part of the disposal process, thus making Safran Cabin activities likely to be sold. In December, Safran announced the sale of Safran Passenger Innovations, Safran Cabin's inflight entertainment and connectivity division, to U.S. private equity firm Kingswood Capital Management.
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