Boeing is turning to the big US banks and Wall Street to raise a total of $25 billion, an amount that will breathe life into its coffers, which have been emptied by the strike of the largest union – which literally paralyzed it. but also from the chronic operational and safety problems faced by its aircraft.

In its announcement to the authorities of the American stock market, Boeing stated that plans to borrow $10 billion by a consortium of banks. Also, in a separate announcement, she notes that plans to raise $25 billion from selling shares and debt. As reported, the 10 billion that will be borrowed from the banking syndicate is included in the total amount of 25 billion that it plans to raise.

According to foreign news agencies, the company’s debt skyrocketed over the past six years, at which time Boeing announced operating losses exceeding $33 billion. Aircraft production was nearly halted by a multi-day strike by the 33,000 members of the International Union of Engineers (IAM).

Talks between Boeing and the IAM collapsed last week, with no new round of negotiations set. Last Friday, the new CEO of Boeing, Kelly Ortber, announced that the staff will be reduced by 10%, which consists of 171,000 workers worldwide.

Boeing’s credit rating has sunk to its lowest level, just one notch above junk, while major rating agencies have warned the company is at risk of being downgraded to junk, which would raise borrowing costs. Boeing’s long-term debt jumped to $53 billion at the end of last June, from $10.7 billion at the end of March 2019, when the second fatal crash of the 737 Max led to a 20-month grounding of the planes, the model of the best sellers.