Boeing to Raise Up to $22 Billion to Shore Up Finances, Stave Off Downgrade

BOEING - NEW YORK. Boeing on Monday launched a stock offering that could raise up to $22 billion as the planemaker looks to strengthen its finances squeezed by an over month-long strike by its workers and preserve its investment-grade credit rating.

The move will boost Boeing's battered finances, which have worsened since roughly 33,000 of its workers represented by the machinists union walked off their jobs in September, halting production of models including its cash-cow 737 MAX aircraft.