Boeing has announced plans to raise up to $25 billion over the next three years to address its ongoing financial struggles, which have seen the company lose more than $25 billion since 2019. In a series of regulatory filings, Boeing indicated it would pursue this capital through the issuance of new stock or debt. Additionally, the company is set to enter a new $10 billion credit agreement with banks, further highlighting its efforts to stabilize its finances amid mounting pressures.
The financial challenges facing Boeing are exacerbated by a significant strike involving thousands of workers who manufacture some of its most popular aircraft. This labor dispute adds to the company's existing financial woes, as it seeks to navigate a turbulent economic landscape.
In broader market news, Wall Street experienced a downturn, with the Dow Jones Industrial Average falling over 300 points, dipping below the 43,000 mark. The Nasdaq and S&P 500 also reported losses, reflecting a general retreat from recent market highs.
In lighter news, the National Zoo in Washington welcomed two new panda bears, Bao Lee and Ching Bao, who arrived from China as part of a 10-year agreement. The zoo was closed for their arrival, and the pandas will undergo a quarantine and acclimation period before being introduced to the public.