) confirmed it is in talks with senior White House officials and congressional leaders about short-term assistance for itself and the entire aviation sector.
This discussions come on a day the planemaker saw its stock plummet 24% to $129.61, and is off more than 60% over the last month as the coronavirus pandemic slashed travel demand worldwide. Earlier on Monday, S&P Global downgraded Boeing’s credit rating and lowered its free cash flow expectations for the company.
Boeing said it is “taking steps to manage the pressure on our business. We’re leveraging all our resources to sustain our operations.” U.S. President Donald Trump, in a tweet late Monday, wrote “the United States will be powerfully supporting those industries, like Airlines and others, that are particularly affected” by the coronavirus. A White House official confirmed the talks “to discuss their views generally just as we have with others.”
Boeing’s total debt nearly doubled to $27.3 billion in 2019, as it compensated airlines and grappled with additional production costs for the 737 MAX even as the grounding prevented it from delivering the aircraft to buyers.
Heck no. Boeing put themselves in this position and now want to use the coronavirus to cover up their massive failures of leadership and safety.
Throw every executive in jail and then we can talk.
You know how many billions they have in reserve? Lots.
They need to make ventilators now
boeing's been on corporate welfare for like 40 years tho
¡¡socialism!!
can we not bail out a company that builds shitty planes that crash without the software update?
LetThemFail
Better pay it back, not like General Motors!
Bueno, what a shame. A buena hora de les ocurrió hacer trampas.
And laght a lot is good for your imunesystem, but it's not so funny.
Surely its terminal illness.
They need to release their personal drone copters asap
How about 300% tariff on Boeing planes after this subsidy
Dont feel sorry for the airlines, payback time
Build a defective aircraft that killed hundreds, lie about it, and want help? Sorry. Thanks for playing.
That’s fine as long as the aid goes to their workers. From here on though Boeing needs to keep their reserves for employee emergencies
What a joke. Zero pennies for hoarders that were busy buying back stock. What a disgrace.
kuku27 Boeing must be helped, it has done lot for nation and is flag carrier company
How about they start mass manufacturing ventilators instead? Boeing
Chapter 11
they pay zero taxes!! Boeing has PLENTY of money.
And in the meantime the people will be left behind while the gov bails out the airlines. Airline CEOs made $300,000 in 2000. let them bail themselves out. Ppl will lose homes/go hungry w/o help. But Repubs take 3 days off showing they don't care. Pass the Families First Act now!
Principles_1st
Hope this great company can during the difficult times. Many years ago I have visited Boeing, great factories and airplanes is unforgettable
This makes me sick! Boeing just did a 100 billion stock buy back! THEY ARE A PUBLICLY TRADED COMPANY. If they want to raise capital they make a stock offering. Why do taxpayers have to bail these schmucks out?
I’m getting tired of bailing out big business. They can pay HUGE salaries but don’t have cash reserves for emergencies or economic downturns?
But, but... SOCIALISM!
We have TANF, Temporary Assistance for Needy Families. Maybe we can call this Temporary Assistance for Needy Fuckheads.
It’s the Republican way. A pandemic threatens countless families and strains finances, so what do they do? Refuse to vote on a relief bill and get ready to hand out checks to companies instead of people.
So we are in trouble for one week and all of these companies already need money? What about all of those share buybacks. Really?!
eugegastien
free market . no gov subsidy.
I thought socialism was evil?
Surely the right wing will label this socialism and their hue and cry will derail any assistance plans.
WTF.
God I hate this country.. tooth and nail to get assistance for real Americans but her comes the welfare queens.. Hey big business what did you do with your massive tax breaks!? Oh right bonuses and yachts.. stock buybacks... Gfys
Um, NOT before families in need...
Everybody has their hands out. Shameless.
I assume I’m next
FuckBoeing and FuckCorporateWelfare
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