Latest news with #Jeppesen
Time of India
2 days ago
- Business
- Time of India
Boeing was heading towards a possible crash but 737 MAX propels US planemaker again
Boeing's rating has been revised by Fitch to much positive threshold. The global ratings agency now expects Boeing to reduce its gross debt below $50 billion in 2026. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs US planemaker Boeing's rating has been revised to 'stable' from 'negative' Global ratings agency Fitch stated on Monday, affirming its 'BBB-' rating, citing improved financial flexibility and production. The major turnaround is largely due to the progress in production of 737 MAX . The revision in outlook comes as a relief for Boeing, which has resolved its labor dispute and is undergoing a broader transformation under current CEO Kelly Ortberg. Major ratings agencies had last year warned of a possible downgrade after a strike by about 33,000 workers halted production of Boeing's best-selling jets, as per a now expects Boeing to reduce its gross debt below $50 billion in 2026 by repaying notes worth $7.95 billion maturing in that year, following a production ramp-up after the strike and the sale of its Jeppesen unit, Reuters reported."Sustained operational improvements, particularly continued 737 MAX production progress, should drive FCF (free cash flow) generation and EBITDA leverage metrics consistent with 'BBB-' thresholds," Fitch said in its ratings agency said it will monitor Boeing's ability to sustain operational momentum and offer clearer guidance on long-term capital allocation, which could support a rating upgrade in six to 12 also expects Boeing's management to continue reviewing its defense portfolio and sell non-core assets. In April, S&P had removed Boeing's rating from CreditWatch negative on improving aircraft production and lower cash burn. A CreditWatch listing reflects the increased likelihood of a downgrade.A1. Fitch is global rating agency.A2. Fitch now expects Boeing to reduce its gross debt below $50 billion in 2026 by repaying notes worth $7.95 billion maturing in that year, following a production ramp-up after the strike and the sale of its Jeppesen unit, Reuters reported.
Reuters
2 days ago
- Business
- Reuters
Fitch revises Boeing outlook to stable
June 30 (Reuters) - Global ratings agency Fitch on Monday revised its outlook on planemaker Boeing (BA.N), opens new tab to 'stable' from 'negative', citing improved financial flexibility and production. It said the outlook revision to stable reflects Fitch's view that Boeing's post-strike production ramp-up and improved financial flexibility, including the recently announced sale of its Jeppesen unit, have reduced the risk of a downgrade and support the company's 'BBB-' rating. The outlook revision also incorporates the agency's expectations of a reduction in Boeing's debt.
Yahoo
2 days ago
- Business
- Yahoo
Fitch revises Boeing outlook to stable
(Reuters) -Global ratings agency Fitch on Monday revised its outlook on planemaker Boeing to 'stable' from 'negative', citing improved financial flexibility and production. It said the outlook revision to stable reflects Fitch's view that Boeing's post-strike production ramp-up and improved financial flexibility, including the recently announced sale of its Jeppesen unit, have reduced the risk of a downgrade and support the company's 'BBB-' rating. The outlook revision also incorporates the agency's expectations of a reduction in Boeing's debt.
Yahoo
17-06-2025
- Business
- Yahoo
Boeing Plans No Further Changes to Global Services After Revamp
(Bloomberg) -- Boeing Co. has completed restructuring its Global Services business and isn't planning to make deeper cuts once it divests its Jeppesen unit later this year, the division's chief executive officer said. Security Concerns Hit Some of the World's 'Most Livable Cities' As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space As American Architects Gather in Boston, Retrofits Are All the Rage How E-Scooters Conquered (Most of) Europe Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown The planemaker isn't looking to auction off other businesses at the division, unit CEO Chris Raymond told reporters Tuesday at the Paris Air Show. The Jeppesen sale was initiated by Boeing CEO Kelly Ortberg shortly after he joined last year, as he faced a strike that had rapidly depleted the US planemaker's cash. Since then, the company has raised $24 billion in cash and begun the painstaking process of rebuilding its troubled manufacturing operations. Boeing also has no plans to fold the services unit, its only steady money-maker this decade, into the company's larger commercial airplane and defense operations, Raymond said. Analysts had widely speculated that Boeing Global Services might be dissolved to cut down on overhead, and that its disparate array of offerings, from spare-parts distribution to digital analytics and pilot training, might be pruned and sold after Ortberg unveiled plans to shrink Boeing last year. But the planemaker appears to be pulling out of its financial tailspin, as the tempo and quality of work in its factories improves. Boeing also got a larger-than-expected windfall from Jeppesen, which provides navigation and flight-planning products. It is being sold to private equity firm Thoma Bravo for $10.5 billion in a deal slated to close late this year. While Boeing would have preferred to keep the profitable business, the move was necessary to provide a financial cushion at a time when Boeing needed it. 'I think we've got the portfolio that we like,' Raymond said. 'Obviously, that was a valuable property in Jeppesen, and that was about the Boeing balance sheet, if you will.' For now, demand is booming for services tied to extending the commercial lives of jets, given a multi-year shortage of new aircraft. Boeing is seeing a surge of interest in refitting aircraft cabins with newer seats, and for the latest broadband service — particularly SpaceX's Starlink satellite system, Raymond said. The smallest of Boeing's three main businesses has been its steadiest performer in recent years: Global Services was the only division to post an operating profit in 2024, when the company posted an adjusted operating loss of $13.1 billion. The challenge for Raymond, who started in the role in January 2024, is to chart a new strategy without Jeppesen's profit cushion. Other digital offerings will continue to be a point of emphasis. But unlike in past eras, Boeing isn't pursuing growth only for growth's sake, Raymond said. The goal now? 'Disciplined, profitable growth,' he said. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software US Allies and Adversaries Are Dodging Trump's Tariff Threats ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17-06-2025
- Business
- Bloomberg
Boeing Plans No Further Changes to Global Services After Revamp
Boeing Co. has completed restructuring its Global Services business and isn't planning to make deeper cuts once it divests its Jeppesen unit later this year, the division's chief executive officer said. The planemaker isn't looking to auction off other businesses at the division, unit CEO Chris Raymond told reporters Tuesday at the Paris Air Show.
