Well, this is one way to save money. Renegotiate with creditors.
The Boeing Company did just that.
The financially troubledairplane manufacturer Boeing amended its contract with Spirit AeroSystems, one of its suppliers, which owes millions in advances.
The deal supersedes the one originally made in April of 2024. Boeing agreed to buy Spirit two months later.
The renegotiated deal was revealed in an 8K filing and includes wording about full repayment, even if the merger deal between the two companies falls apart. Boeing agreed to buy the company in an all-stock deal.
This is a good message for Boeing to send to the aviation community in that it is still willing to do business under any circumstances.
It still remains to see how Wall Street will react. Boeing shares initially fell two cents per stock after the filing came out.
Boeing has had a difficult year on the stock market.
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