Brazil's Embraer files arbitration proceedings against Boeing after deal collapse

Brazil's Embraer SA has already begun an arbitration process against Boeing Co, its CEO said on Monday, after the U.S. planemaker canceled a $4.2 billion deal overnight.

Embraer Chief Executive Francisco Gomes Neto declined to provide more details on the process and if it will be accompanied by a lawsuit in either a Brazilian or a U.S. court.