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Bloomberg
Boeing Co would consider selling stock to repair its balance sheet if its battered shares recover and the company hits milestones like finally restarting 787 Dreamliner deliveries, Chief Financial Officer Brian West said. “All options are on the table,†West told a Goldman Sachs Group Inc conference.
While a prominent customer has publicly questioned the company’s strategic vision after its dismal first quarter results, West pointed to a potential comeback that could start with the 787 program.
US regulators are reviewing a certification plan for repairing structural defects in about 115 undelivered Dreamliners, a step towards resuming deliveries that have been largely halted since late 2020. Boeing gained as much as 4.5% during West’s upbeat presentation before plunging to a 2.7% loss at the close of a turbulent trading session in New York. The stock is down about 36% so far this year.
West was optimistic the company could one day return to being a prodigious cash-generator, after burning through more than $30 billion since 2019. But formidable challenges remain — from Covid-related lockdowns in China to parts shortages that have hamstrung Boeing’s 737 Max production.