3/25, 4:05 PM (Source: TeleTrader)
more TeleTrader news

Rescue bill includes billions for Boeing - report

The recently agreed-upon $2 trillion United States Senate rescue bill includes a clause that enables the government to provide emergency loan help to the Boeing Company, the Washington Post reported on Wednesday, citing three unnamed sources familiar with the situation.

In the bill, a $17 billion loan program is aimed to assist companies "critical to maintaining national security," with the sources claiming that the provision's intention is to primarily support the airplane manufacturer, with other businesses also in consideration. The sources added, however, that the clause may still be removed from the bill as certain details still need to be ironed out.

The report also said that the aforementioned loan program is not included in $58 billion in loans aimed to help the airline industry, nor in the $425 billion loan package to firms and local governments hit by the coronavirus pandemic. Yesterday, US President Donald Trump stressed that Boeing cannot be closed down.

Breaking the News / MS