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Boeing Terminates $4.2 Billion Deal to Buy Stake in Embraer Unit [The New York Times]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Boeing, which is contending with the economic fallout from the pandemic and the grounding of its 737 Max jets, said Saturday that it had terminated an agreement to buy 80 percent of Embraer’s commercial jet business for $4.2 billion.Walking away from the deal will help Boeing conserve cash at a time when it isfacing a litany of problemshas reopenedsaid it had decided to end two years of talksEmbraer called Boeing’s claims “false”The initial agreement,struck two years agoBut the aviation business, along with Boeing’s own prospects, have sharply deteriorated since then. After two fatal crashes of the 737 Max, regulators around the world grounded the jet last year. And the coronavirus pandemic has ended most air travel globally, upending the finances of airlines and prompting them to cancel or defer airplane orders.Embraer’s own finances have also weakened. Although the agreement did not allow Boeing to terminate it for financial reasons, the company said other terms of the master transa Show less Read more
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