The No. 1 and No. 3 makers of large commercial aircraft, Boeing and Embraer, are in talks to formally align, although the Brazilian government appears to be the main hurdle, the companies and financial analysts said Dec. 21. The basis of any combination remains “under discussion,” the companies said in a joint statement, and it would have to be approved by the Brazilian government and regulators, the two companies’ boards and Embraer’s shareholders. “There is ...

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