Boeing scraps US$4.2 billion deal to buy Embraer commercial division
Boeing is going through exceptionally hard times, between the grounding of its 737 MAX planes for more than a year after two crashes left 346 people dead and the coronavirus pandemic that has severely reduced air travel around the world. – AFP pic, April 26, 2020.
BOEING announced yesterday it was pulling out of a US$4.2 billion deal to acquire the commercial plane division of its Brazilian rival Embraer, the latest in a string of setbacks for the troubled US aviation giant. The companies had planned to form a joint venture in which Boeing would take an 80% stake in that division. The deal had been due to be finalised no later than Friday.
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