Boeing Co. launched a nearly $19 billion share sale to address liquidity needs and avert a potential credit rating downgrade, driven by ongoing turmoil and a significant strike.
The company’s balance sheet is strained; new CEO Kelly Ortberg is grappling with a cash burn expected to reach $14 billion this year amid production challenges.
Amid ongoing workforce turmoil, with factory workers rejecting a 35% wage increase offer, Boeing plans to cut its workforce by about 10%.
In navigating financial difficulties, Boeing received clearance to sell $25 billion of equity and debt, along with a new $10 billion credit agreement to secure liquidity.
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