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 co, boeing co, life, breaking news: business, transportation, southwest airlines co, jpmorgan chase & co, business news, wells fargo & co, travel, spirit aerosystems holdings inc, aerospace and defense industry, bank of america corp, citigroup inc, business, american airlines group inc,
Source: https://www.cnbc.com/2020/01/20/737-max-crisis-boeing-seeks-to-borrow-10-billion-or-more.html