Investing.com– Boeing Co (NYSE:BA) is planning to launch a $15 billion capital raise by as soon as Monday, Bloomberg reported, as the planemaker grapples with a debilitating strike and falling cash levels.
Reports over the $15 billion capital raise had picked up in recent weeks, as a strike involving over 30,000 employees saw the company hemorrhage cash for over a month.
Boeing reportedly received approval from the Securities and Exchange Commission to raise up to $25 billion. The planemaker is also seeking to avoid a potential downgrade of its credit rating to junk.
Boeing’s strike is just the latest in the planemaker’s woes, after the maiden flight of its Starliner spacecraft stranded two astronauts aboard the International Space Station.
This came after the company saw increased regulatory scrutiny over its safety standards, following an incident involving the door blowing out from an Alaskan Airlines flight.