Embraer blames failed Boeing deal for sharp drop in commercial jet deliveries

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FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio

SAO PAULO (Reuters) – Planemaker Embraer (EMBR3.SA) said Tuesday it delivered just five commercial jets in the first quarter, less than half of what it delivered a year ago, blaming the drop on preparations for a deal with Boeing Co (BA.N) that fell apart last month.

Embraer had hoped Boeing’s takeover of its commercial plane division for $4.2 billion would bring much-needed marketing power to its midsize jets, which have

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Jetmaker Embraer focuses on future after Boeing divorce ‘pain’

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PARIS/SAO PAULO (Reuters) – The head of Embraer’s (EMBR3.SA) commercial aircraft unit defended the benefits of a $4.2 billion tie-up abandoned by Boeing Co (BA.N) last week, but said the Brazilian aerospace group was focusing on its future as a re-united company.

FILE PHOTO: Embraer’s commercial aviation chief John Slattery talks to Reuters during the International Air Transport Association (IATA) meeting in Cancun, Mexico June 5, 2017. REUTERS/Victor Ruiz Garcia

Commercial Aviation Chief Executive John Slattery said Embraer had incurred pain and costs in separating jetliners from defence and business-jet activities in preparation for the merger,

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

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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

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Embraer takes Boeing to arbitration over failed deal as shares plummet

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SAO PAULO (Reuters) – Brazil’s Embraer SA (EMBR3.SA) on Monday said it had begun an arbitration process against Boeing Co (BA.N), after the U.S. planemaker abruptly canceled a $4.2 billion deal over the weekend that was years in the making.

FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio

Embraer shares fell as much as 16% in Sao Paulo to a more than 8-year low on news of the cancellation, suggesting investors had hoped until the last minute that

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