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.
Reportedly, Boeing (NYSE: BA) will cancel CEO’s pay, suspend its dividend and extend a pause on share buybacks as companies are looking for government aid to meet fallout from the COVID-19 outbreak.
Boeing’s decision like similar other airlines are in an effort to win over taxpayer support for their requests for stimulus packages as air travel face major backlash due to falling air travel demand and a declining economy. Boeing is pursuing $60 billion in U.S. government aid.
The company stated, “Boeing is drawing on all of its resources to sustain operations, support its workforce and customers, and maintain supply chain continuity through the COVID-19 crisis and for the long term.”
The company previously suspended its stock buyback program in April of 2019.
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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