Boeing: asks for 60 billion dollar support to help industry
(CercleFinance.com) - US planemaker Boeing is asking for a minimum of 60 billion dollars in access to public and private funding, including loan guarantees, to protect the US aerospace manufacturing industry.
The biggest US exporter said that it plans to work with the Trump administration and US Congress as they consider legislation to support the company, that had already been badly hit by the 737 MAX scandal before the Covid-19 crisis.
Boeing said funds would be used for the broader aviation industry, in particular for payments to suppliers to maintain the operation of its supply chain.
The company says that these measures are needed to manage pressure on the aviation sector and the economy as a whole, until global passenger traffic resumes to normal levels.
Last week Boeing drew on a long-term in a move designed to increase its liquidity and ease some significant near-term pressures on its business.
Year-to-date Boeing shares have collapsed 62%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The biggest US exporter said that it plans to work with the Trump administration and US Congress as they consider legislation to support the company, that had already been badly hit by the 737 MAX scandal before the Covid-19 crisis.
Boeing said funds would be used for the broader aviation industry, in particular for payments to suppliers to maintain the operation of its supply chain.
The company says that these measures are needed to manage pressure on the aviation sector and the economy as a whole, until global passenger traffic resumes to normal levels.
Last week Boeing drew on a long-term in a move designed to increase its liquidity and ease some significant near-term pressures on its business.
Year-to-date Boeing shares have collapsed 62%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.