March 17, 2020 / 8:09 PM / 11 days ago

EXCLUSIVE-Boeing seeking 'tens of billions' in U.S. government loan-guarantees - sources

WASHINGTON, March 17 (Reuters) - Boeing Co is seeking “tens of billions of dollars” in U.S. government loan-guarantees and other assistance as faces it a looming liquidity crunch from the massive coronavirus economic disruption impacting the entire aviation sector, two people briefed on the matter told Reuters.

The U.S. planemaker has told lawmakers it needs significant government support to meet liquidity needs, the people said. Boeing confirmed Monday it was in talks with the administration about short-term support, while U.S. President Donald Trump said Tuesday the U.S. government would provide support. Boeing has noted that typically 70% of its revenue flows to its 17,000 suppliers. (Reporting by David Shepardson in Washington; Editing by Lisa Shumaker)

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