Embraer Spent $120M Carving Out ECA After Boeing JV Collapse
Embraer spent $120 million carving out ECA from the rest of the company after its joint venture with Boeing collapsed in April 2020. The separation and the unclear consequences left customers hesitant to order E-Jets. An arbitrator later awarded ECA $150 million in breakup fees Boeing had to pay, though an ECA officer said the money went to lawyers. Reintegration was further strained by the March 2020 COVID-19 outbreak.