Boeing Co on Saturday pulled out of a $4.2 billion deal to buy Embraer’s commercial jets division, sparking a furious response from its jilted partner and leaving plans for a U.S.-Brazil alliance from regional jets to jumbos in tatters. The collapse, first reported by Reuters, came hours after a midnight deadline expired with no agreement on how to implement a deal first aired in 2018, partially in response to a similar Canadian acquisition by Europe’s Airbus . Boeing accused Embraer of failing to meet conditions for closing the transaction, but Embraer said Boeing had torpedoed it because of wider financial problems it faces as a result of the coronavirus crisis and the grounding of its 737 MAX.
