Visit our Covid-19 microsite for the latest coronavirus news, analysis and updates

Follow the latest updates of the outbreak on our timeline.

Boeing has called for a minimum of $60bn in government funding for the US aerospace manufacturing industry to overcome the impact of the Covid-19 pandemic.

The aircraft manufacturer sought assistance in government loan guarantees and other forms of financing that will help manufacturers, airlines, suppliers and other stakeholders to recover from the current crisis.

The move comes after the US President Donald Trump said that his administration will support Boeing, one of the biggest aircraft manufacturers in the world.

The company further noted any financial support will be used to pay its 17,000 suppliers until the global flight services return to normal levels.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In a statement, Boeing said: “We’re leveraging all our resources to sustain our operations and supply chain. We continue to assess additional levers as we navigate the current challenges and position the industry for the long term.

“As reported last week, drawing on our delayed draw loan term was a prudent step to increase our liquidity and ease some of the significant near-term pressures on our business. We filed an 8-K today to formally disclose that draw down.”

Notably, Boeing’s stock has lost 60% of its value in the last month due to the pandemic, which has affected more than 147 countries.

Last week, Air Canada reduced an earlier Boeing 737 Max aircraft order due to the revised circumstances.

Globally, the coronavirus has killed more than 7,900 people while the number of total cases exceeded 198,000.