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Among the causes of the $ 4.2 billion withdrawal from business is the economic crisis arising from the new coronavirus pandemic. The negotiation involved a merger between the two companies, which would have 80% of the new company led by Boeing.
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247 – The American company Boeing withdrew from the multimillion-dollar agreement signed to buy the Brazilian Embraer.
Among the causes of the $ 4.2 billion business withdrawal is the economic crisis stemming from the new coronavirus pandemic. The negotiation involved a merger between the two companies, which would have 80% of the new company headed by Boeing.
In addition, pressure from United States President Donald Trump, amid assistance from the United States government to keep the company alive with the bitter difficulties of the airline industry thanks to the pandemic, made the deal was unfeasible.
In an interview with Veja, Richard Aboulafia, vice president of analysis for the US aviation consultancy Teal Group, stated that the non-consolidation of the agreement does not have a relevant impact on the situation of Embraer. “Embraer was an important source for engineers to make the assembly of a new mid-size Boeing feasible, but this project does not appear to be out of paper soon. The only more serious problem for them is that they will not have a plane to compete with Airbus, which has the A220 model, but that is not a priority for the company, “he says.
According to him, Boeing will have to pay between 75 and 100 million dollars for the breach of the agreement. The negotiations also depended on the approval of the European Union since, in September, the bloc announced that it would open an investigation into the purchase of Embraer’s commercial division.
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