Boeing and its suppliers nearing $60bn rescue deal – The National

Boeing and its suppliers nearing $60bn rescue deal – The National

Boeing and its suppliers nearing $60bn rescue deal. Boeing and its suppliers are closing in on a federal rescue deal that would provide at least $60 billion (Dh220.39bn) to help ride out the coronavirus pandemic.. Boeing could also claim part of $17bn in loans for companies deemed critical for national security.. Boeing executives were combing through the measures in the stimulus legislation, which arrived in piecemeal fashion, while evaluating proposals from bankers to line up additional liquidity, the sources said.. The shares have skyrocketed 67 per cent this week as the market chatter switched to bailout terms instead of more dire scenarios.. How much aid the planemaker takes will vary depending on the terms imposed by the Treasury Department and the strength of capital markets, a source said.. Company executives had lobbied for US government loans or loan guarantees.. Before the coronavirus disrupted global airline travel, Boeing had already raised a $13.8bn two-year, delayed-draw term loan with a group of banks to weather the 737 Max grounding and an ongoing production halt.. Boeing's $750 million in 2.95 per cent notes due in 2030 traded at 82.8 cents on the dollar, up about four points from Tuesday but down from 106