Boeing Co has hired investment banks Lazard and Evercore Inc to assess potential U.S. government assistance or private sector loans, a person briefed on the matter confirmed on Friday.
FILE PHOTO - A worker leaves the Boeing Everett Factory, amid the coronavirus disease outbreak, in Everett, Washington, U.S. March 23, 2020. REUTERS/David Ryder
“We’re going to be meeting with Boeing,” President Donald Trump told reporters on Friday. “Boeing has not asked for aid yet but I think they probably will... We can’t let anything happen to Boeing.”Boeing has noted that typically 70% of its revenue flows to its 17,000 suppliers and has told lawmakers that without significant assistance the entire U.S. aviation manufacturing sector could collapse.
This week, Boeing suspended production of its 787 airplane at its facilities in South Carolina and had indefinitely extended a halt in its production operations at its Washington state facilities. Last week, Reuters reported Boeing was looking at drastic cuts in wide-body production amid a slump in demand for the industry’s largest jetliners, citing sources.
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