This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Boeing Returns to Wage Talks After 2 Weeks
October 8, 2024
Boeing and its largest union, IAM District 751, are attempting a more traditional negotiation approach to resolve the strike, two weeks after a failed direct offer to workers. A federal mediator has called negotiators back for discussions, signaling a potential move towards a compromise and a potential third contract offer. The two sides remain at odds, particularly over the union’s demand to reinstate a defined benefit pension plan. As the strike continues, Boeing is losing about $100mn daily in sales, and striking workers have lost access to company-backed health care benefits. With its jet deliveries slowed to a trickle by the strike, Boeing’s already difficult financial situation is worsening by the day, with credit-rating companies anxiously watching over the strike’s duration as they consider cutting the credit rating to junk. For instance, S&P said that it kept Boeing on-watch, noting that the planemaker’s BBB- issuer rating could see an impact if they face an extended worker strike, delaying recovery. Last week it was reported that Boeing was considering raising at least $10bn through a new stock sale to replenish its cash reserves impacted by an ongoing strike.
Boeing’s bonds traded stable with its 5.15% 2030s at 99.6, yielding 5.23%.
For more details, click here
Go back to Latest bond Market News
Related Posts:Boeing’s Bonds Drop on Poor FAA Audit Results
March 13, 2024
Boeing Expects Cash Burn in 2024
May 24, 2024
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.