Boeing has abandoned a deal to buy 80% of Embraer's commercial aircraft business for $4.2 billion, stating that the Brazilian company didn't satisfy necessary conditions of the agreement
Under the terms of the deal, either party could back out after midnight Friday if it wasn’t closed by then.
Bombardier, gave Airbus a 50.01% stake in the Canadian company’s C Series program after coming close to bankruptcy due to cost overruns and delays in developing the plane. , which only wants the associated service network for its long-delayed new regional jets and will shut down production. It’s possible that Boeing and Embraer could revive the deal once markets calm down, says Aboulafia. Embraer faces a rough road ahead on its own.
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