Brazil planemaker Embraer SA said that after a $4.2 billion (£3.4 billion) deal with Boeing Co fell apart over the weekend, it is working on adjusting production levels and capital expenditures, as well as working to preserve cash.
) fell apart over the weekend, it is working on adjusting production levels and capital expenditures, as well as working to preserve cash.
“We are taking additional measures to preserve our liquidity and maintain our solid finances during these turbulent times,” the company added. The deal between Embraer and Boeing was announced almost two years ago and the companies were in the final stages of closing it before it fell apart. Boeing was to take 80% of Embraer’s commercial aviation division, which makes planes of up to 150 seats.
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