Boeing-Embraer tie-up collapses

Boeing-Embraer tie-up collapses

Boeing (US:BA) has announced that it is walking away from a $4.2bn (£3.4bn) deal to establish a joint venture with Embraer (US:ERJ). The aviation giant had been set to take an 80 per cent stake in the partnership, but says the Brazilian company “did not satisfy the necessary conditions” of their agreement. Embraer has hit back, claiming Boeing engaged in a “systematic pattern of delay... in light of its own financial condition”.

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