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Key Takeaways
- Boeing is reportedly considering selling up to $10 billion in stock to boost its revenue as it deals with a strike by its machinists.
- The plane maker was already struggling before the strike over issues including mechanical problems with its aircraft and a legal settlement over two deadly crashes.
- The company’s stock has lost over 40% of its value since the start of the year.
Boeing (BA) is reportedly considering selling up to $10 billion in stock to boost its revenue as it deals with a strike by its machinists.
However, Boeing likely won’t raise equity for at least a month, Bloomberg reported, as the company looks to end the strike by reaching a deal with the union and get a clearer estimate of its financial impact.
Strike Adds to Boeing’s Struggles
The plane maker was already in a difficult financial position before the strike, after burning through billions to address a variety of issues, including mechanical problems with its planes and a legal settlement with the government related to two deadly crashes.
Boeing did not immediately respond to a request for comment.
Shares of Boeing were 2% higher at $154.98 in early trading Tuesday, though even with Tuesday’s gains, they’ve lost over 40% of their value since the start of the year.
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