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Boeing, Embraer Scrap $4.2 Billion Deal as Market Shrinks [Yahoo! Finance News]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Bloomberg) -- Boeing Co. is walking away from its proposed $4.2 billion combination with Embraer SA’s commercial-aircraft business, ending years of talks, as the planemakers brace for a far smaller jetliner market after the coronavirus pandemic.The deal’s collapse turns two long-time business partners into competitors and strengthens Airbus SE’s long-term advantage in the lucrative market for single-aisle planes. The partnership with Brazil’s Embraer would have armed the U.S. aerospace giant with smaller jets to compete against a new offering from Airbus.Boeing is abandoning the proposed tie-up weeks after Chief Executive Officer Dave Calhoun warned employees that the company would need to adjust to a “new reality” as travel demand vanishes because of the virus and airlines prepare for a slow recovery. Embraer’s market value has tumbled to less than $1.1 billion, about a quarter of what Boeing had been poised to pay for the Brazilian company’s commercial plane operations alone.Continu Show less Read more
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