Badly bruised by a pandemic that's affected its key commercial aircraft business, Boeing (NYSE: BA) is apparently trying to secure a new $4 billion credit facility from a syndicate of banks led by Citigroup. This would not be the first instance in recent times that Boeing has tapped creditors for billions of dollars in financing. At the moment, Boeing is sitting atop roughly $9.5 billion in unused revolving debt.
The European Union and U.S. on Friday temporarily halted tariffs on array of products including luggage, alcohol, produce in a boon for U.S. businesses that rely on revenue from these imports.
The planemaker said its Chief Executive Officer David Calhoun had a take-home pay of $269,231 in 2020 after he agreed to forgo his pay and incentive bonus in March last year as the COVID-19 pandemic set in, according to a proxy filing. When Calhoun took over as Boeing's CEO in January 2020, he was also entitled to two supplemental equity awards worth $17 million, but they were not eligible to be vested last year, according to the company. The disbursal of a portion of the equity awards is linked to the safe return to service of the 737 MAX jets, and the successful entry into service of the 777X aircraft, among other conditions, Boeing said.