Published on : 03/21/2020 – 16:34
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The financial state of the American aircraft manufacturer Boeing, faced with the coronavirus crisis, worries the federal government. Twelve years after the rescue of General Motors and Chrysler, should we nationalize this national flagship or not? The industrialist has already suffered big losses with the setbacks of his 737 MAX and his position on the market is today very weakened by this health crisis.
Faced with the coronavirus pandemic, the Airlines companies have suspended their flights one by one. New planes are no longer delivered. The American aircraft manufacturer Boeing has not stopped production, but it has no more income. Result: the group’s action is in free fall.
While the company was worth $ 130 billion in early March, its market capitalization melted on March 20 to $ 54 billion, which exposes the American to a stock market raid by foreign investors or competitors.
” The first problem is to avoid a takeover by a financial predator, but it is very difficult to assess in the current state of things because it all depends on the duration of the stoppage of air transport. Are we talking about a month, two months or three months? Explains Pierre Condon, specialist in air transport issues.
What type of rescue for Boeing ?
Another American aircraft manufacturer, Lockheed Martin or Northtrop Grumman, could be interested, speculate the markets. Boeing is claiming $ 60 billion in aid. Should it be bailed out with taxpayers’ money? What form would the rescue take? Opinions differ.
In the meantime, the managing director and the chairman of the board of directors have respectively waived their salaries until the end of the year.
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