New Boeing CEO Faces Debt Challenge

Kelly Ortberg inherits a Boeing with $57.9 billion in debt and a credit rating hovering a notch above junk at one agency with negative watches at two others. April’s $10 billion bond issue at least bolstered a cash pile that had fallen into single-figure billions, but $4.2 billion of that was burned through in the latest quarter. With cash expected to be negative for the year, Ortberg and CFO Brian West may still have to return to the debt market to cover borrowings assumed from the planned takeover of Spirit AeroSystems.

Scroll to Top