Boeing Closes In on U.S. Lifeline After $142 Billion Wipeout
- Aerospace industry group sees ‘good signals from the Hill’
- Pandemic is pushing planemakers, airline into deep crisis
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Boeing Co. is edging closer to winning a government bailout as the once-mighty company races to secure a lifeline amid the aviation industry’s worst crisis in decades.
Backstop financing would start to slide into place next week if the U.S. Congress approves a Senate Republican proposal to provide as much as $208 billion in collateralized loans and loan guarantees for companies and industries jeopardized by the coronavirus pandemic. Boeing called this week for $60 billion in aerospace aid, mostly for itself.