Boeing Co will need to borrow more money over the next six months and does not expect to pay dividends again for years, as the U.S. planemaker wrestles with industry fallout from the coronavirus and the grounding of its 737 MAX jet, chief executive Dave Calhoun told shareholders on Monday.
) will need to borrow more money over the next six months and does not expect to pay dividends again for years, as the U.S. planemaker wrestles with industry fallout from the coronavirus and the grounding of its 737 MAX jet, chief executive Dave Calhoun told shareholders on Monday.
“We have to keep that flow of money going to the supply chain so that they have some predictability around how they operate.” “That process could take three to five years... It’s going to be a while before dividends come back.” “We worked diligently for two years to finalize the transaction, but ultimately we could not come to a resolution around critical unsatisfied conditions for the deal,” he said.Industry sources have said Boeing was interested in Embraer mainly for access to lower-cost engineers and new manufacturing options, but it is now pondering cutting 10% of its workforce while also seeking U.S. federal help for the aerospace sector.
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