Embraer takes Boeing to arbitration over failed deal as Brazil eyes China tie-up [Reuters]
Embraer S.A. (ERJ)
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Source: Reuters
Embraer takes Boeing to arbitration over failed deal as Brazil eyes China tie-up SAO PAULO/BRASILIA (Reuters) - Brazil’s Embraer SA said on Monday it had begun an arbitration process against Boeing Co, after the U.S. planemaker abruptly canceled a $4.2 billion deal over the weekend that was years in the making. The deal’s collapse was not well received by investors who appeared to have hoped until the last minute that the takeover would not fall apart. Boeing shares fell to an 8-year low before paring losses and closing 7.5% lower. But Brazil’s government, which used to own Embraer and is still the company’s largest military client, took a more upbeat tone. It eyed China as a potential new partner for the planemaker, even as several senior Brazilian government figures have attacked the Chinese government recently. Brazil’s Vice President Hamilton Mourao, a retired army general, called the turn of events a “blessing in disguise.” “We have the know-how, they have the demand,” Mourao sai
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News
- Boeing's weakness has a lesser known plane maker from Brazil gearing up to compete, and American Airlines' CEO is a fan [Yahoo! Finance]Yahoo! Finance
- Boeing's weakness has a lesser known plane maker from Brazil gearing up to compete, and American Airlines' CEO is a fan [Fortune]Fortune
- Gear Up for Embraer (ERJ) Q1 Earnings: Wall Street Estimates for Key Metrics [Yahoo! Finance]Yahoo! Finance
- This Brazilian planemaker denied reports it wants to kick Boeing while it's down and build a new jet to compete with the 737 [Business Insider]Business Insider
- Breeze Airways adds another non-stop destination from Jacksonville to its routes [Yahoo! Finance]Yahoo! Finance
ERJ
Earnings
- 3/19/24 - Beat
ERJ
Sec Filings
- 5/2/24 - Form 6-K
- 4/29/24 - Form 6-K
- 4/22/24 - Form 6-K
- ERJ's page on the SEC website