Aircraft Business & Finance

Boeing secures $12B in loans amid 737 Max crisis

Boeing has secured $12 billion in financing from over a dozen banks.

The loans will help Boeing ride out the B-737MAX crisis. The company has not provided further details, although sources have valued the loan, as a vote of confidence from Wall Street in the possibility of resolving the crisis.

The loan mechanism stipulates that Boeing will not access all the funds at once, but will gradually do so with the agreement of all parties.

Shares in Boeing recovered 1% this week on the news.