Boeing Mulls Stock Sale, Plans New Cut To 787 Dreamliner Output
Debt burden that has soared to US$61 billion
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Boeing is studying an equity sale and other ways to ease a debt burden that has soared to US$61 billion this year amid the worst slump in aviation history.
Adding to the financial stress, Boeing will trim output of its 787 Dreamliner to five planes a month by mid-2021, one less than previously planned, Chief Financial Officer Greg Smith said Friday. Boeing didn't deliver any of the marquee wide-body jets last month and December shipments will be slow as the company inspects each aircraft for manufacturing flaws, Smith said.
Lower Dreamliner output and the potential need to sell stock underscore the pressure on Boeing even as the company's best-selling jetliner, the 737 Max, emerges from a 20-month grounding.
The planemaker took on more than $30 billion in debt earlier this year to shore up liquidity as the coronavirus pandemic swept the globe, gutting demand for air travel and new...
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