Boeing said on Thursday it is merging its decades-old aircraft-financing arm with its commercial airplanes unit as part of a push to simplify its corporate structure.
announced a reorganization of its defense unit that halved the number of sub-divisions. It has also moved to cut 2,000 white-collar jobs in finance and human resources.BCC was credited with prolonging the reign of the Queen of the Skies for several years after stepping in to finance the sale of freighters to Volga-Dnepr with leasing deals when other financiers were reluctant to back the aging jet.
BCC stood ready to buy back jets and lease them to airlines and more helped shore up market support for the Boeing 737 MAX, according to market sources. As the availability of capital for aviation has grown, with investors hunting for dollar-denominated yields, BCC has been a vocal proponent of multiple types of funding for airlines.
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