{"id":168816,"date":"2024-10-15T12:00:18","date_gmt":"2024-10-15T12:00:18","guid":{"rendered":"https:\/?p=168816"},"modified":"2024-10-15T21:28:32","modified_gmt":"2024-10-15T21:28:32","slug":"boeing-secures-us10-billion-loan-amidst-workers-strike","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2024\/10\/boeing-secures-us10-billion-loan-amidst-workers-strike.html","title":{"rendered":"Boeing secures US$10 billion loan amidst workers’ strike"},"content":{"rendered":"\n

The U.S. manufacturer Boeing <\/strong>announced on Tuesday that it managed to close a credit agreement with a consortium of banks worth 10 billion dollars, after it revealed last Friday that it is going through \u201cdifficult times\u201d and anticipated that it will lay off 10% of its global workforce (17,000 workers).<\/p>\n\n\n\n

\u201cThis credit facility provides additional short-term access to liquidity as we navigate a challenging environment,\u201d the company said in a statement.<\/p>\n\n\n\n

Boeing also separately reported Tuesday on a plan to raise $25 billion through equity and debt sales over the next three years that would provide \u201cflexibility for the company as it pursues a variety of capital options.\u201d<\/p>\n\n\n\n

\u2192 Boeing delivers 33 jets in September<\/a><\/em><\/strong><\/p>\n\n\n\n

The company is seeking new sources of financing, as it has $11.5 billion in debt maturing through 2026 and is facing serious liquidity problems after more than 30,000 employees went on strike in September, paralyzing production of the 737 MAX, its best-selling commercial aircraft.<\/p>\n\n\n\n

The shutdown is costing the company more than $1 billion a month, according to an estimate released before Boeing announced its job cuts.<\/p>\n\n\n\n

The company had also been subject to new production limits on MAX aircraft by U.S. regulators after a cockpit panel on these aircraft blew out in mid-flight in January.<\/p>\n\n\n\n

Boeing has posted operating cash flow losses of more than $7 billion in the first half of 2024 and its debt stands at about $60 billion.<\/p>\n\n\n\n

Boeing’s new CEO, Kelly Ortberg, will hold his first quarterly meeting with investors on October 23 since becoming CEO of the company in August.<\/p>\n\n\n\n

With information from EFE<\/p>\n\n\n\n

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