Troubled Boeing signals it may raise up to $25 billion to shore up finances

Associated Press

SEATTLE (AP) — Boeing is moving toward raising up to $25 billion to shore up its troubled financial position. The company signaled Tuesday that it could raise that much money by issuing new stock or debt over the next three years. Boeing is also entering into a new $10 billion credit agreement with leading U.S. banks. Boeing has lost more than $25 billion since the start of 2019, and now it’s under pressure from a strike by union machinists who make the company’s airplanes. Last week, new CEO Kelly Ortberg said Boeing will cut about 10% of its workforce – that’s around 17,000 jobs.