Boeing seeks to borrow $10 billion or more amid 737 Max crisis - CNBC

 Boeing seeks to borrow  billion or more amid 737 Max crisis - CNBC

(Reuters) - Boeing Co is in talks with banks about borrowing $10 billion or more amid rising costs after the two fatal 737 Max crashes, CNBC reported https://www.cnbc.com/2020/01/20/737-max-crisis-boeing-seeks-to-borrow-10-billion-or-more.html on Monday citing people familiar with the matter.

The U.S. planemaker has so far secured at least $6 billion from banks and is talking to other lenders for more contributions, the report added.

Analysts estimate that Boeing has been losing around $1 billion a month because of the grounding and it reported an almost $3 billion negative free cash flow in the third quarter.

Boeing also reported its worst annual net orders in decades, earlier last week, along with its lowest numbers for plane deliveries in 11 years.

Boeing did not immediately respond to a Reuters request for comment.

(Reporting by Ayanti Bera in Bengaluru, Editing by Franklin Paul)

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Updated Date: Jan 21, 2020 00:06:36 IST