Report: Boeing Receives More Than $12 Billion In Financing

Boeing is seeking at least $10 billion from banks like Wells Fargo and Bank of America to mitigate losses from the grounding of its 737 Max aircraft. The company has already secured $2 billion more than expected. The financing involves a two-year delayed draw loan, allowing Boeing to defer spending the funds immediately. Boeing has faced continuous challenges since the 737 Max was involved in two fatal crashes in 2018 and 2019, leading to a production halt and delayed return to service. Boeing plans to reveal its financial strategy soon.

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