Boeing Declines COVID-19 Federal Aid After Raising $25Bln in Bond Offering

MOSCOW (Sputnik) - US aerospace manufacturer Boeing has said that it will not seek federal aid to weather the coronavirus crisis because it raised $25 billion in a bond offering.

"As a result of the response [to a bond offering], and pending the closure of this transaction expected Monday, May 4, we do not plan to seek additional funding through the capital markets or the U.S. government options at this time", the company said in a statement late on Thursday.

It specified that the bond offering allowed it to raise "$25 billion across seven tranches with maturities ranging from three to 40 years".

Boeing airplane manufacturing plant outside Seattle, in Renton, Washington

© AP Photo / Elaine Thompson

In late March, the US approved a $2.2 trillion coronavirus aid relief package, which envisaged help to big corporations among other things. President Donald Trump has repeatedly called Boeing the "greatest company", expressing readiness to help it as it struggles with both the 737 MAX controversy and the pandemic fallout.