Embraer receives MTA termination notice from Boeing

Brazil-based Embraer has announced it believes Boeing´s notice of termination of the Master Transaction Agreement (MTA) makes false claims to avoid closing transaction, the company said.

Embraer believes Boeing´s claims are a pretext to avoid paying Embraer the USD 4.2 billion purchase price.

The company said it believes Boeing has engaged in a systematic pattern of delay and repeated violations of the MTA, because of its unwillingness to complete the transaction in light of its own financial condition and 737 MAX and other business and reputational problems.

Embraer believes it is in full compliance with its obligations under the MTA and that it has satisfied all conditions required to be accomplished by April 24, 2020.

Embraer will pursue all remedies against Boeing for the damages incurred by Embraer as a result of Boeing´s wrongful termination and violation of the MTA.

Embraer is a global aerospace company with businesses in commercial and executive aviation, Defense & Security and Agricultural Aviation.