Boeing understood to be in talks with banks over $10 billion loan to deal with crisis

Boeing, which is in talks with banks over $10 billion or more to borrow, is facing the worst crisis from two deadly 737 Max plane crashes, according to people familiar with the matter. So far, the company has received at least $6 billion in loans from banks and is in talks with other banks to get more, people familiar with the matter said.

Boeing understood to be in talks with banks over $10 billion loan to deal with crisis

The two accidents occurred in Indonesia in October 2018 and Ethiopia in March last year, killing all 346 people on board. Since then, the 737 Max has been banned worldwide.

The company will suspend production of the 737 Max this month as it is in its 11th month of suspension.

The 737 Max’s re-flying still faces several obstacles, including a new software problem the company revealed last week.

Boeing did not immediately respond to a request for comment.