Boeing plans to raise up to $35B to shore up finances as strike continues

Published On Oct 15, 2024, 12:16 PM

Boeing is planning to raise up to $35 billion through a combination of stock and debt offerings as well as a new credit agreement. This move is aimed at shoring up its finances amidst ongoing strike actions that have significantly impacted production and led to substantial monthly costs. The strike involves around 33,000 unionized workers and has already cost Boeing over $1 billion a month. The company had $10.89 billion in cash reserves as of June and is looking to manage its upcoming debt obligations and general corporate operations with the raised funds.