Boeing Takes Embraer to Arbitration As New Buyers Appear

Boeing Takes Embraer to Arbitration Over Failed Aviation Deal

(Source: Reuters; published June 2, 2020)

SAO PAULO --- Boeing Co has taken former partner Embraer SA to arbitration over a failed $4.2 billion deal, the Brazilian planemaker said in a securities filing on Monday night.

So far, it has only been publicly known that Embraer had taken Boeing to arbitration, angered by how the U.S. planemaker abruptly broke off that deal in April after years of working together.

Boeing did not immediately respond to a request for comment.

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Embraer Says China, India Are Potential Partners After Failed Boeing Deal

(Source: Reuters; published June 1, 2020)

By Marcelo Rochabrun

SAO PAULO --- Brazil’s Embraer SA said on Monday that China and India could be potential new partners, following a Reuters report last week that said those two countries as well as Russia were interested in the planemaker’s commercial jets division.

Embraer is dealing with the abrupt collapse of a planned deal with Boeing Co in April that left the company scrambling for a plan B.

Embraer Chief Executive Francisco Gomes Neto said in an earnings call that it was still early to discuss new opportunities in detail as the company is studying a new five-year plan. He added that partnerships could involve products, engineering and production.

Gomes Neto named China and India as potential partners, as well as unnamed “other countries.”

Embraer said ahead of the earnings call, however, that it was not currently negotiating with China’s state-owned COMAC, Russia’s Irkut or India on any potential deal to replace the one with Boeing, adding that it regularly evaluates potential partnerships. (end of excerpt)

Click here for the full story, on the Reuters website.

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