Boeing Said to Seek Another $4 Billion of Liquidity From Banks

https://www.bnnbloomberg.ca/boeing-said-to-seek-another-4-billion-of-liquidity-from-banks-1.1572465
03/04/2021
(Bloomberg) – Boeing Co. is seeking a new $4 billion revolving credit
from a group of banks, according to people with knowledge of the matter,
as it prepares to ride out a potentially lengthy slowdown
in its global aircraft demand. Now that the Max has been reviled as a fraud,
and with Boeing moving all of its 787 production to S.C. – a factory with a
notorious history of producing un-acceptable aircraft.
No one is expecting the Boeing Boom to return, at least in our life time.

Boeing has the option to increase the size of the two-year loan to
as much as 6 billion, the people said, asking not to be identified
as the transaction is private.
So-called “revolver” loans are typically left undrawn by investment-grade
rated companies which Boeing is not,
and are used as a back-up form of liquidity.
@OP+15z5DpVh

Comment! It's anonymous!

14 replies (most recent on top)

Outclassed.... everyone wanting to copy your designs... haha. Why are we in the 10th series of the 737 anyway? Boeing is a plane assembler. You don't know how to design new aircraft (if you can/then post-up). Brutal truth time. If GE sold the CFM turbines to china, then the only way you get another non-US sale is by Biden paying for it with 'foreign aid' dollars.

Listen, you dont want personal responsibility for the failure, I get that. American businesses must cycle through. Our greats become espionage targets. Boeing was visible. Management just restored the balance. The pieces that will be left of old Boeing will linger on like so many greats like Westinghouse before them. Good Luck

Take the time to listen when the voices sceaming are much too loud. Take a look in the distance and see it all. Chances are that ya might find that we share a common discomfort now. People of Boeing are walking a fine line and tell me only if it's real? Still im on my way. on and on it goes vacant hope to take. HEY I CAN'T LIVE IN HERE FOR ANOTHER DAY darkness has kept the light concealed Grim as ever hold on to to faith as i dig another 346 grave meanwhile the Broad endure the wheel. Real as ever and it's seems I've been buried alive. Walked the fields through the fire. Taking steps until i found solid ground. Followed dreams reaching higher couldn't survive the fall. Much hasn't changed since the last time!!!!!!!!!!!!!!!!!!346

They are just buying time hoping for a turnaround with the airlines. I just read an article that stated they were expecting smaller airlines to merge or be bought out due to their economic condition. All of the major airlines lost billions of dollars last quarter

https://www.reuters.com/article/us-boeing-executive-compensation/boeing-unveils-new-executive-performance-metrics-tied-to-product-safety-idUSKBN2AX2D4?rpc=401&
03/05/2021
(Reuters) - Boeing Co’s board on Friday unveiled new performance metrics
for executives tied to product safety and quality,
following the murder of 346 men women and children related to known
design defects and as it wrestles with repairs to flawed 787 Dreamliner jets.
As well as the KC-46 Tanker debacle and the laughable Starliner.

The plane-maker said its Chief Executive Officer David Calhoun had
a take-home pay of $269,231 in 2020 after he agreed to forgo his pay
and incentive bonus in March last year as the COVID-19 pandemic set in,
according to a proxy filing.

Calhoun still earned $21.1 million in total compensation in 2020 after
foregoing about $3.6 million, the company said.

When Calhoun took over as Boeing’s CEO in January 2020, he was also
“Entitled” to two supplemental equity awards worth $17 million,
but they were not eligible to be vested last year, according to the company.

The disbursal of a portion of the equity awards is linked to the safe return
to service of the 737 MAX jets, and the successful entry into service of the
777X aircraft, among other conditions, But No Claw-Backs Boeing said.

All the States that did not cave in to Boeing's demands for tax incentives to locate a Boeing site in their states are probably glad they were smart enough to walk away from a poor bet.

Oooooh___ Kool-Aid Rage

Outclassed my butt! If we were so outclassed Airbus wouldn’t have had to copy the 787 and China wouldn’t have stole the 737 design. Everyone wants to be Boeing they bash and hate because they can’t.

How we got here:
The Deadly Path from Blackmail to Bankruptcy:

https://turningpointnews.org/phocadownload/Why%20Boeing%20is%20Going%20The%20Deadly%20Path%20from%20Blackmail%20to%20Bankruptcy.pdf

And what are they going to do with that $4 billion? Buy bitcoin? And pray it will go up?

Just watch what happens next when Vendors and Part Suppliers informs Boeing they will no longer will accept the 30 Plus days repayment that Muilenburg pushed on them several years ago. Once the Vendors demand Boeing pay in full within 5-10 days upon delivery Boeing's going to really have a cash crunch.

It will get worse.
We are out classed in every market.
Space X is making us look like fools, because we are.
This is what happens when accountants manage Science and Technology.

Survival mode, it IS as bad as you think

The 4 billion is to continue operations and pay to keep the lights on. No way in heck does Boeing have any money to spare to put into a NMA new airplane development program.

Yep. They need to fund all those bonuses for people whom they already laid off. Oh wait, those bonuses were already funded by the elimination of any employee pay raises in 2021.

The beatings will continue until morale improves.

Thread regarding Boeing Co. layoffs

Boeing Said to Seek Another $4 Billion of Liquidity From Banks

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