Boeing to leave Aero for symbolic sum of 2 crowns
The American company Boeing has decided to give up its share in the aircraft manufacturer Aero Vodochody for a symbolic amount of 2 crowns to the Czech state. The move proposed by the Finance Ministry was approved by the government on Wednesday. Both sides had been holding talks on a settlement since last winter and the contracts were completed only several weeks ago. Boeing first entered Aero in 1998 with a promise to help it enter foreign markets. However, it failed to keep the promise and the Czech government decided in February that the strategic partnership with Boeing would be terminated.