Boeing issues statement CARES Act to support American economy

Boeing has announced a statement supporting the US government for taking swift bipartisan action through the passage of the CARES Act to support the American economy, the company said.

The CARES Act supports the 2.5 million jobs and 17,000 suppliers that Boeing, the aerospace industry and the US rely on to offer commercial, defense and services, the company.

The bill´s access to public and private liquidity, including loans and loan guarantees, is critical for airlines, airports, suppliers, and manufacturers to bridge to recovery.

Boeing said its top priority is to protect its workforce and support its extensive supply chain. The CARES Act will help provide adequate measures to help address the pandemic. Boeing has taken a number of measures for affordability and liquidity to navigate the challenges the industry currently faces, including forgoing pay for the company´s CEO and board chairman, suspending dividends until further notice, and extending the existing pause of any share repurchasing until further notice.