Boeing announces intention to raise up to $25 bn
The Peninsula
New York: US aircraft manufacturer Boeing on Tuesday unveiled measures meant to replenish its cash flow, including its intention to raise up to $25 bi...
New York: US aircraft manufacturer Boeing on Tuesday unveiled measures meant to replenish its cash flow, including its intention to raise up to $25 billion, as it navigates recurrent production problems and a major US strike.
The company said it could raise the money via securities such as shares or bonds, according to a regulatory document.
It also earlier announced that it was in an agreement to obtain $10 billion in credit from multiple banks.
The moves come amid a worker strike by the International Association of Machinists and Aerospace Workers, who walked off the job on September 13 after overwhelmingly rejecting a contract offer.
The direct financial impact of the first month of the strike cost Boeing more than $3 billion, according to Anderson Economic Group.
