Boeing (BA)

[behappyalways]

Boeing Slashes 10% Of Workforce, CEO Warns "Hard To Overstate The Challenges We Face"
https://www.zerohedge.com/markets/boein ... es-we-face

[winston]

not vested

Boeing said on Tuesday (Oct 15) it has entered a credit agreement worth US$10 billion with a consortium of banks, as the US plane maker readies financing sources amid a crippling strike and upcoming debt maturities.

Earlier this year, Boeing committed to issuing US$4.7 billion of its shares to acquire Spirit AeroSystems and assume its debt.

Boeing’s cash woes have worsened since roughly 33,000 of its workers represented by the Machinists union walked off their jobs in September, halting production of its best-selling 737 MAX aircraft.

The strike is costing the company more than US$1 billion per month

Source: Phillips

[winston]

not vested

Boeing to raise up to US$25 billion as strike weighs on finances

The aviation giant indicated plans to raise the funds by selling stock and debt

Machinist strike in the Seattle region which effectively shut down assembly plants for the 737 Max and 777.

About 33,000 Boeing workers in the Pacific North-west have been on strike for nearly a month

The direct financial impact of the first month of the strike cost Boeing more than US$3 billion,

Last week, Boeing said that it planned to cut 10 per cent of its workforce as it projected a large third-quarter loss in the wake of the labour action.

Pushing back first delivery of the 777X to 2026 from 2025. The much-delayed jet was originally supposed to enter service in January 2020.

Source: AFP

https://www.businesstimes.com.sg/compan ... s-finances

[behappyalways]

Boeing Explores Asset Sales In Potential Shrinking Of Corporate Footprint
https://www.zerohedge.com/markets/boein ... e_vignette

[winston]

not vested

Boeing reported a more than US$6 billion loss for the third quarter, its largest since 2020 when the pandemic halted most aircraft demand and its bestselling airplane was grounded after two crashes.

Loss per share was US$10.44 adjusted compared with an adjusted loss of US$10.52 while revenue was US$17.84 billion vs US$17.82 billion expected.

Boeing ’s new CEO, Kelly Ortberg acknowledged that it will take some time to turn the ship but was upbeat the company could increase output of its bestselling 737 Max once the strike ends.

Source: Phillips

[winston]

not vested

Boeing CEO warns no quick fix to planemaker's crisis as losses balloon to US$6b

By Abhijith Ganapavaram & Allison Lampert

Source: Reuters

Ortberg did not address a possible capital raise, which Reuters has reported could be around US$15 billion.

Boeing on Wednesday reported a quarterly cash burn of US$1.96 billion, compared with a cash burn of US$310 million a year earlier.

Quarterly revenue fell 1% to US$17.84 billion.

Commercial aircraft business recorded a US$4 billion loss, while its defense, space and security business lost US$2.38 billion.

https://theedgemalaysia.com/node/731325

[behappyalways]

Another Catastrophic Quarter From Boeing
https://www.zerohedge.com/markets/anoth ... ter-boeing


"We Remain On Strike": Boeing Union Rejects New Labor Contract
https://www.zerohedge.com/markets/we-re ... bor-action

[behappyalways]

Boeing has lost 6 billion in the quarter, agreed to a 35% wage increase, and the union is still on strike

波音季度已虧60億 同意加薪35% 工會仍罷工 TVBS文茜的世界財經周報 20241027

https://m.youtube.com/watch?v=4S0vr1M22xQ

[behappyalways]

Boeing goes on strike. Management is burning $50 million a day, but labor rejects proposal again
波音罷工.資方日燒5千萬美金 勞方再拒提案｜方念華｜FOCUS全球新聞 20241025 ‪@tvbsfocus‬
https://m.youtube.com/watch?v=8LO_lfrgcMQ


Boeing Offers 90 Million Shares & $5 Billion Depositary Shares To Boost Liquidity
https://www.zerohedge.com/markets/boein ... -liquidity

[behappyalways]

Boeing union ends nearly eight-week strike with 38% pay increase in four years

4年加薪38% 波音工會結束長達近八周罷工 TVBS文茜的世界財經周報 20241110

https://m.youtube.com/watch?v=8I2ujaBvYyo