Boeing Reportedly Sells Yacht as Part of Cost-Cutting Campaign

Boeing (NYSE: BA) has reportedly sold a corporate yacht it once used to entertain corporate customers, a fresh sign of the belt tightening going on at the struggling aerospace giant.

The Daedalus, a 130-foot yacht usually moored on Seattle's Lake Union, was sold for $13 million to a California developer, according to a report in the Puget Sound Business Journal. In years past, the Daedalus often spent its summers in and around Vancouver Island, used by Boeing sales teams to host airline customers for fishing trips and other outings.

Image source: Boeing.

Source Fool.com