Boeing Mulls $10B Stock Sale To Shore Up Finances

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.