CNBC's Leslie Josephs: Boeing Secures More Than $12 billion in Financing to Help Weather 737 Max Crisis

Jan. 27, 2020
Boeing has secured more than $12 billion in financing from more than a dozen banks as the industrial giant shores up its balance sheet amid the nearly yearlong grounding of the 737 Max following two fatal crashes.

Boeing secures more than $12 billion in financing to help weather 737 Max crisis

Leslie Josephs

  • Boeing had sought $10 billion from banks as the 737 Max crisis wears on.
  • The two 737 Max crashes killed 346 people and prompted Boeing to suspend production of the planes this month.
  • Boeing reports earnings on Wednesday before the market opens.

Boeing has secured more than $12 billion in financing from more than a dozen banks as the industrial giant shores up its balance sheet amid the nearly yearlong grounding of the 737 Max following two fatal crashes, according to people familiar with the matter.

The manufacturer was trying to secure a loan of $10 billion, CNBC reported last week. 

The two crashes — a Lion Air flight in Indonesia in October 2018 and an Ethiopian Airlines flight last March — together killed all 346 people on board. 

CNBC reported on the loan size last week.

The loan is a vote of confidence in the supplier from Wall Street.

Boeing is expected to detail its financing strategy when it reports earnings before the market opens on Wednesday.