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Boeing is in talks to borrow $10 billion or more as 737 Max crisis wears on - TL;DR CNBC

Boeing is in talks to borrow $10 billion or more as 737 Max crisis wears on

Publishing timestamp: 2020-01-20 15:56:41


Summary

Boeing is in talks with banks to secure a loan of $10 billion or more to cover rising costs from the 737 Max crashes. The company has already secured $6 billion and is talking to other lenders for more contributions. The loan would help Boeing shore up its finances amid the fallout of the crashes, production shutdown, and weak sales figures. Suppliers like Spirit AeroSystems and General Electric are also feeling the impact, with layoffs and financial downgrades. Airlines have lost over $1 billion in revenue due to the grounding of the 737 Max, and Boeing is expected to report another pre-tax charge this month.


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Keywords: general electric coboeing colifebreaking news: businesstransportationsouthwest airlines cojpmorgan chase & cobusiness newswells fargo & cotravelspirit aerosystems holdings incaerospace and defense industrybank of america corpcitigroup incbusinessamerican airlines group inc

Source: https://www.cnbc.com/2020/01/20/737-max-crisis-boeing-seeks-to-borrow-10-billion-or-more.html


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