Boeing exploring asset sales to boost finances, WSJ reports
Boeing is exploring asset sales in a bid to boost its fragile finances by shedding its non-core or underperforming units, the Wall Street Journal reported on Sunday.
The planemaker last week reached an agreement to offload a small defense unit that makes surveillance equipment for the U.S. military, the paper reported, citing people familiar with the deal.
Boeing has lurched from crisis to crisis this year, ever since Jan. 5 when a door panel blew off a 737 MAX jet in mid-air. Since then, its CEO has departed, its production has been slowed as regulators investigate its safety culture, and in September, 33,000 union workers went on strike.
The Journal reported that in recent financial-performance meetings, new CEO Kelly Ortberg asked the heads of the company's units to lay out the value of those units to the company.
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