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Boeing seeks to borrow 10 billion dollars amid the 737 Max crisis
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Economy News - Baghdad
"Reuters" quoted a source as saying that Boeing was in talks with banks about borrowing $ 10 billion or more, amid an increase in costs for the American aircraft manufacturer, after the crash of two of its 737 Max planes.
CNBC television reported the news first on Monday, quoting sources as saying that Boeing has so far secured at least six billion dollars from banks and is talking to other banks about more contributions.
A source confirmed the news of the talks to Reuters, but it is not yet clear how much money Boeing will seek to raise and whether it will go ahead with a plan to sell new bonds.
The company declined to comment.
Reuters reported on Friday that the US Federal Aviation Administration is currently unlikely to agree to the 737 MAX's return to flight until March. But this may be delayed until April or longer.
Boeing confirmed Monday that it had temporarily halted production of the 737 MAX aircraft in Washington state in the past few days. The company had said in December that it would stop production sometime this month.
Boeing has estimated costs of stopping the 737 MAX flying at more than $ 9 billion so far and is expected to unveil significant additional costs in its fourth-quarter results, which will be released on January 29.
Analysts estimate that Boeing is losing about a billion dollars a month due to the suspension of the 737 MAX.
Boeing also announced last week the worst annual orders in decades, and the lowest numbers of aircraft deliveries in 11 years.
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