About: http://data.cimple.eu/news-article/76d7bf7c538233e3ccc8ce40ae60a478c521b1bda288e76e50923102

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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Boeing announced Saturday it was pulling out of a $4.2 billion deal to acquire the commercial plane division of its Brazilian rival Embraer. The companies had planned to form a joint venture in which Boeing would take an 80 percent stake in that division. The deal had been due to be finalized no later than Friday. But Boeing said Saturday it was exercising its right to pull out of a preliminary deal reached in July 2018. It said in a statement, "Embraer did not satisfy the necessary conditions." "Boeing has worked diligently over more than two years to finalize its transaction with Embraer," said Marc Allen, the Boeing executive who led the joint venture plan. He said that over the past several months the companies held extensive talks on what he terms unsatisfied conditions in the initial accord. "We all aimed to resolve those by the initial termination date, but it didn't happen," Allen said, without explaining what the unresolved issues were. The companies could have kept talking but decided not to. Boeing is going through exceptionally hard times, between the grounding of its 737 MAX planes for more than a year after two crashes left 346 people dead and the coronavirus pandemic that has severely reduced air travel around the world. The deal was meant to be a counterweight to industry leader Airbus's buyout of the commercial aviation business of Canadian planemaker Bombardier. It was to have let Boeing compete with Airbus in the market for medium-haul planes and allow Embraer to benefit from Boeing's powerful presence in the marketplace. The deal had cleared all regulatory hurdles but was awaiting the green light from the European Commission. The two companies will continue to work together on a program for a military transport plane called the C-390, Boeing said. jum/dw/bbk
schema:headline	Boeing scraps $4.2bln deal to buy Embraer commercial division
schema:mentions	Hurdling NWA Hard Times Deutsche Welle 2001 Omsk An-70 crash Boeing 737 MAX European Commission Canada Pandemic Severe acute respiratory syndrome coronavirus 2 Counterweight Bombardier Aviation Mark Roebuck
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-25 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	68 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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