16.06.2020 Boeing Daily Analysis

16.06.2020 Boeing Daily Analysis

Boeing today is trading at $190.94, it is trading higher with $1.43 mainly because Brazilian planemaker Embraer SA (SA:EMBR3) said on Monday it was replacing the head of its commercial aviation unit after a planned deal to have Boeing Co (N:BA) take over that division fell apart in April. Embraer said it had promoted Arjan Meijer to replace John Slattery, who under the original plan was going to become a Boeing executive in charge of the Embraer partnership. Slattery will become President and CEO of GE Aviation, the aircraft lessor reported separately on Monday. More so, Planemaker Embraer said on Monday it will receive a $600 million loan, financed partly by Brazil's government, to help the company weather the coronavirus crisis that has ravaged the air travel industry. Embraer had been lobbying for the loan since April, when a crucial deal with Boeing Co fell apart, leaving the Brazilian planemaker looking for new sources of liquidity. The loan will mature in four years.