As per reports, Boeing (BA) has approached a group of banks for a new $4 billion revolving credit facility to sail through a lengthy slowdown in global aircraft demand. As per sources, the aerospace giant has the option to increase the size of the two-year facility to as much as $6 billion. Boeing has been relying on banks for funds over the past year. In early 2020, Boeing entered in a $13.8 billion delayed-draw term loan, taking the full amount down just weeks later as the pandemic took over globally.
In recent months, Boeing is under the severe crisis of suspended or postponed orders as global air travel struggles to take off. Recently, Boeing has been dealing with manufacturing flaws in its 787 Dreamliner, resolving issues that have stopped deliveries of the jetliner since October.
Boeing’s spokesman refused to comment on the matter.
Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space, and security systems. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page.
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