Boeing Takes $19 Billion Flight: Stock Offering Amid Crisis

Boeing announced a stock offering aiming to raise $19 billion amid financial strain from a lengthy worker strike and ongoing safety issues. The plan includes selling common stock and depositary shares. This move aims to stabilize Boeing's finances, preserve credit ratings, and address significant debt and labor challenges.

Boeing has embarked on a $19 billion stock offering, a decision driven by the urgent need to strengthen its finances amidst a prolonged workers' strike and persistent safety issues.

The aerospace giant's strategy involves selling 90 million shares of common stock along with $5 billion in depositary shares linked to convertible preferred stock.

This financial maneuver aims to stabilize Boeing's fiscal standing, preserve its credit rating, and tackle growing debt challenges exacerbated by labor disputes and production halts.

(With inputs from agencies.)