[ad_1]
US aircraft maker Boeing will not take over Brazilian rival Embraer. The purchase of four-fifths of Embraer’s commercial aircraft business for $ 4.2 billion (€ 3.88 billion) failed, Boeing said today. In the end, it was not possible to agree on the terms of the acquisition in the two-year negotiations, Boeing manager Marc Allen said. That is “deeply disappointing”.
Competition authorities gradually rejected it, with the exception of the European Commission, which recently examined it. With the purchase, Boeing would have incorporated Embraer’s smaller range of aircraft. That would have strengthened the American manufacturer in competition with its European rival Airbus.
Boeing does not mention the coronavirus crisis in the report. But it is clear that the crisis is severely affecting the business of aircraft manufacturers, with uncertain long-term consequences. There’s also the big problem for Boeing with the 737 Max. The model has been banned worldwide since two plane crashes. Boeing presents its quarterly results on April 29.
