6 sources·Business

Boeing Aims to Raise $19 Billion Amid Ongoing Worker Strike

Boeing seeks to bolster finances with a $19 billion stock offering while grappling with a major worker strike and significant debt issues.

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Updated: Oct 28th, 2024, 1:03 PM ET

Summary

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Boeing is set to launch a stock offering worth up to $19 billion, including 90 million common shares and $5 billion in depositary shares, to enhance liquidity amid a prolonged worker strike affecting production. The company reported a substantial $6 billion loss for the third quarter and is contending with mounting debts. Rating agencies have cautioned that continuing labor unrest could lead to a downgrade of its investment-grade credit rating. The anticipated funds will be utilized for corporate purposes, including potential debt repayment and working capital expansion.

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Boeing Aims to Raise $19 Billion Amid Ongoing Worker Strike - Pano News