Boeing is attempting to raise around $19 billion through new shares and securities to avoid a credit downgrade amidst ongoing financial losses and a significant strike.
According to Fitch Ratings, Boeing's investment-grade credit rating lacks headroom due to the strike. An extended strike would directly threaten their current rating.
The company reported a staggering $6.1 billion loss in Q3, which it attributes primarily to operational disruptions linked to its ongoing labor strikes and contract negotiations.
Boeing launched plans to sell 90 million new shares to generate cash needed urgently as it faces operational challenges and investor concerns rising from the strike.
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