Boeing Considers Selling Stock to Cut $61 Billion Debt Burden
Boeing (NYSE: BA) put to rest questions about its viability back in April by raising $25 billion in new debt. Now, with the 737 MAX airborne again and airlines slowly recovering, the company is considering selling issuing shares to pay down some of that debt.
Appearing at a Credit Suisse investment conference Friday, Boeing chief financial officer Greg Smith said the company's focus in the months to come will be on paying down some of its massive $61 billion in debt. "When it comes to capital deployment, ... it will be all about paying down that debt. We'll continue, obviously, to invest in the business, but we got to get this debt balance down. And we'll look for every opportunity to do that in the most efficient way, including equity," said Smith..
Image source: Boeing.
Source Fool.com
