Boeing pulls out of joint venture talks with Embraer: sources

Boeing has ended agreements for joint ventures with Brazil’s Embraer after a deadline for the deal passed, the latest derailment at the aerospace giant.

“It is deeply disappointing. But we have reached a point where continued negotiation within the framework of the MTA is not going to resolve the outstanding issues.” Marc Allen, president of the Embraer Partnership and Group Operations, in a Boeing news release.

Boeing announced the terms of the deal in July 2018, which would have given Boeing control of Embraer’s commercial aerospace arm, which makes passenger planes that are smaller than Boeing’s.

The deal was meant to help Boeing grow stronger in commercial aerospace to better compete with European rival Airbus. Airbus, for its part, has already taken a stake in what’s now called the A220 passenger-plane program of Canada’s Bombardier.