Boeing Raises $21 Billion to Counter Financial Strain and Preserve Credit Rating

The aerospace giant's capital raise aims to mitigate the impacts of a prolonged strike and avert a potential credit downgrade.

Boeing's expanded stock sale has raised $21 billion, exceeding initial expectations and providing a crucial financial cushion.
The company faces significant financial pressures due to a 47-day machinists' strike, which has halted production of key aircraft models like the 737 MAX.
Rating agencies have warned of a potential downgrade to junk status if Boeing's financial situation continues to deteriorate.
Boeing reported a $6 billion loss in the third quarter and anticipates continued cash burn into the first half of next year.
CEO Kelly Ortberg is spearheading efforts to stabilize the company, including potential layoffs and a strategic review of Boeing's business portfolio.