Boeing calls for $60bn coronavirus bailout

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Boeing has called for a minimum US$60 billion support package to be made available to airlines, airports, aircraft suppliers and manufacturers during the coronavirus pandemic.

The call was supported by US President Donald Trump, who said that the company needed protecting.

Boeing said, “We appreciate the support of the President and the Administration for the 2.5 million jobs and 17,000 suppliers that we rely on to remain the number one US exporter, and we look forward to working with the Administration and Congress as they consider legislation and the appropriate policies.”

The company believes the US$60 billion is needed to “support the health of the broader aviation industry, because much of any liquidity support to Boeing will be used for payments to suppliers to maintain the health of the supply chain”.

“Until global passenger traffic resumes to normal levels, these measures are needed to manage the pressure on the aviation sector and the economy as a whole,” it added.

Meanwhile Airbus has closed its France and Spain for a deep clean and to implement more stringent hygiene measures to combat the COVID-19 virus.

 

 

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Ben has worked all of his career as a journalist and now editor, covering almost all aspects of technology, engineering and industry. In the last 20 years he has written on subjects from nuclear submarines and autonomous cars to future design and manufacturing technologies and commercial aviation. Latterly editor of a leading engineering magazine, he brings an eye for a great story and lots of experience to the team.

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