Boeing says it could collect $25 billion as Seattle strike takes its toll
The US aviation giant has been plagued by problems in recent years, and a strike by factory workers in Seattle has added to short-term cash flow problems. He sought to reassure markets that there was still room for maneuver if necessary.
Boeing tried to reassure investors saying it could raise additional funds if needed in the short and medium term.
Boeing said on Tuesday it could raise up to $25 billion (23 billion euros), including the issuance and sale of new shares, to help its ailing balance sheet after years of heavy losses, while workers at the US car manufacturer Airmen continue to strike, demanding better. the salaries. .
Boeing said in subsequent regulatory filings that it could raise the funds over the next three years and enter into a new agreement with lenders.
The planemaker has not made an annual profit since 2018, losing more than $25 billion in total in the following years. Boeing’s reputation was greatly damaged during this period, when two 737 Max planes crashed, killing 346 people.
Boeing 737 Max crash could have been ‘much more tragic’
The airline’s finances are currently under even greater strain as a strike by workers who build most of its planes enters its second month. This industrial action exacerbated Boeing’s cash flow problems, slowing production and deliveries.
Factory workers held a large rally in Seattle on Tuesday to demand better wages, increasing pressure on new CEO Kelly Ortberg to end the dispute.
Hundreds of workers were in the main hall of the union headquarters chanting “Pension! pension! pension!” and “One more day, one stronger day!”
Boeing will cut about 10% of its workforce, or 17,000 people, “in the coming months” and delay the launch of its first 777X jetliner. But Seattle factory workers were undaunted Tuesday, continuing to fight for higher wages and better pensions.
