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4/27, 5:28 PM (Source: TeleTrader)
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CEO: It will take 'years' before Boeing restores dividend

Boeing Chief Executive Officer Dave Calhoun said on Monday that air travel demand won’t recover for two or three years. "When it recovers, the commercial market will be smaller," Calhoun said at the company's annual shareholder meeting.

It will be "years" before the company starts paying dividends again, Calhoun said, adding that the company will have to borrow more money over the next six months.

Last week, the aircraft manufacturer said it will lay off 10% of its employees in the civil aviation division due to the effects of the coronavirus pandemic on its operations. The company also postponed the return of its 737 Max aircraft until late summer or early fall, previously set for the middle of the year.

Breaking the News / SR