Boeing is raising $10 billion as a machinists' strike enters its fifth week. In a regulatory filing Tuesday, the planemaker said it had entered a credit agreement with Bank of America, Citibank, Goldman Sachs, and JPMorgan Chase.
Boeing filed a registration statement with the U.S. markets regulator on Tuesday that will allow the planemaker to raise up to $25 billion through an offering of various debt securities and classes of stock.
Boeing Co.'s stock BA rose 2.8% premarket Tuesday, after the aerospace giant said it has entered a $10 billion supplemental credit agreement with a group of banks, easing concerns about its liquidity position.
Boeing said on Tuesday it has entered a credit agreement worth $10 billion with a consortium of banks, as the U.S. planemaker readies financing sources amid a crippling strike and upcoming debt maturities.
Boeing factory workers will hold a large rally in Seattle on Tuesday to demand a better wage deal, mounting pressure on new CEO Kelly Ortberg to end a bitter strike that has plunged the troubled planemaker further into financial crisis.
Julie Su is in Seattle to mediate Boeing worker strike to resume negotiations. Boeing's strike began after workers rejected a 25% pay raise, demanding 40% and other benefits instead.
Boeing will send 60-day notices in mid-November to staff being made redundant as part of a plan announced last week to cut 17,000 jobs at the debt-laden planemaker, an engineering union spokesperson and one industry source said on Monday.
Boeing's 777X, its largest passenger plane, is delayed yet again. Flight-test problems and an ongoing strike pushed the timeline to 2026, costing billions.
Boeing will cut 17,000 jobs—10% of its global workforce—delay first deliveries of its 777X jet by a year and record $5 billion in losses in the third quarter, as the U.S. planemaker continues to spiral during a month-long strike.
Matthew Akers, Wells Fargo Securities analyst, and Richard Safran, Seaport Global Securities senior analyst, join CNBC's 'The Exchange' to discuss Boeing's third quarter losses, their outlook the stock, and more.
Boeing (BA) has released its preliminary third quarter earnings results, projecting a larger-than-expected loss. The aerospace giant also announced plans to cut approximately 17,000 jobs, representing 10% of its workforce.
The Boeing Company BA announced plans to reduce its headcount, following the stock breaking below a key support level. As traders and investors who created the support with their buy orders have either completed their transactions or withdrawn, Boeing's stock is showing signs of further downward pressure.