Boeing's predicament is intensifying. Now, they're obtaining massive sums of money in loans.
In a business declaration on Tuesday morning, the firm revealed intentions to obtain a $10 billion loan from a collective of financial institutions. Additionally, it unveiled aspirations to increase capital by $25 billion through stock and debt sales.
The organization's debt has skyrocketed in the past six years, with Boeing posting core business losses exceeding $33 billion. The production of their commercial airplanes has practically halted due to a 30-day strike by 33,000 employees of the International Association of Machinists.
negotiations between Boeing and the IAM hit an impasse last week, with no further talks scheduled. Subsequently, on Friday, new CEO David Calhoun of Boeing announced plans to reduce its global workforce by 10%, which comprises 171,000 employees.
This situation is still unfolding. It will be updated accordingly.
Despite the challenging financial situation, Boeing is exploring new avenues for investment in its business, including the possibility of securing funds through mutual agreements with financial institutions. Reducing its workforce is just one measure, and Boeing is also looking to raise capital by selling stocks and debt, demonstrating a commitment to its business growth objectives.
