News Formal

Boeing CFO says aerospace industry needs credit urgently, markets closed to new debt

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

SEATTLE: Boeing's chief financial officer said on Tuesday (Mar 24) the US aerospace industry urgently needs credit to cope with the coronavirus ...

SEATTLE: Boeing's chief financial officer said on Tuesday the US aerospace industry urgently needs credit to cope with the coronavirus pandemic but"markets essentially are closed" to new debt.

"Having access to the credit markets is really important for us right now," Boeing CFO Greg Smith said when asked whether Boeing could issue such instruments in return for support. Smith said Boeing, which drew down a US$13.8 credit line it took in February but has a further US$9.6 billion in reserve, was not in discussions to add new commercial debt facilities.

Smith also said a tie-up with Brazil planemaker Embraer remained strategically important to the company.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump says he will not let Boeing go out of business: Fox News interviewWASHINGTON: President Donald Trump said on Tuesday that he would not let airplane maker Boeing Co go out of business as a result of the economic ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »