Embraer and Boeing’s $4.2 billion deal ruled out pandemic as pretext to cancel


SAO PAULO (Reuters) – Boeing Co’s recently aborted $4.2 billion agreement to buy the commercial jet-making operations of Brazil’s Embraer specifically forbade either party from calling it off because of a pandemic or a global economic recession, Reuters has found.

FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid

As the aviation industry grapples with its worst crisis in generations due to the coronavirus pandemic, analysts now say the deal’s contract backed Boeing into a corner when financial conditions worsened globally, pushing it

Read More

Boeing’s big week includes Q1 results and government aid deadline


A Boeing 777X airplane taxis during its first test flight from the company’s plant in Everett, Washington, U.S. January 25, 2020.

Terray Sylvester | Reuters

A slew of upcoming Boeing announcements aim to calm investor nerves and set the stage for future growth — much like when Dave Calhoun was named as the aerospace giant’s next CEO.

In the next week, Boeing will hold its annual meeting, report first-quarter results and face the application deadline for a multi-billion dollar aid package from the federal government.

Those familiar with the discussions of Boeing’s leadership said Calhoun is planning to show investors

Read More

Coronavirus brings Boeing’s US airplane production to a halt after South Carolina closure


Boeing Dreamliner 787 Air China planes sit on the production line at the company’s final assembly facility in North Charleston, South Carolina.

Travis Dove | Bloomberg | Getty Images

Boeing on Monday said it will suspend production of 787 planes in South Carolina because of the coronavirus pandemic, a move that puts all of the manufacturer’s final assembly of commercial airplanes on hold.

The announcement came after South Carolina Gov. Henry McMaster ordered most residents to stay at home except for certain activities such as buying essential goods or visiting family.

Boeing on Sunday said it would indefinitely extend a

Read More