News
Boeing goes to the market for fresh capital as losses mount
October 29th 2024
Boeing has announced a capital raising via the sale of new shares as the financial impact of a shop floor work stoppage at its Seattle factories deepens. Read More » The capital raising will include the sale of 90,000,000 shares of common stock and US$5 billion of depository shares. “Boeing intends to use the net proceeds from the offerings for general corporate purposes, which may include, among other things, repayment of debt, additions to working capital, capital expenditures and funding and investments in the company's subsidiaries,” Boeing said in a regulatory filing. Members of the International Association of Machinists and Aerospace Workers employed at Boeing in Seattle walked off the job in mid-September. Last week a majority of the union’s members at Boeing’s Seattle factories rejected the company’s latest pay package and voted to continue their strike.
