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Boeing improves financial standing during strike as workers demonstrate | News on Workers’ Rights


Boeing plans to raise up to $25bn through stock and debt offerings and a $10bn credit agreement with major lenders amid a production and regulatory crisis. The company, grappling with a production slump and strike, aims to maintain its credit ratings. S&P Global and Fitch warned of a downgrade, but the offerings could help preserve Boeing’s investment-grade rating. Some analysts are skeptical about the plan’s effectiveness, with one even suggesting a possible Chapter 11 filing. The strike, costing Boeing $1bn a month, has led to talks breaking down and workers demanding better pensions. US lawmakers and union representatives are pushing for a resolution. Boeing’s cash and cash equivalents as of June 30 were $10.89bn. The company plans to use the funds for general corporate purposes. On Tuesday, hundreds of striking workers chanted at a union headquarters rally, demanding a fair contract, while Representative Pramila Jayapal called on Boeing to end the strike. The situation remains tense as Boeing tries to navigate its financial and labor challenges.

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