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Report: Boeing in talks with banks to borrow $10B for 737 MAX costs

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Report: Boeing in talks with banks to borrow $10B for 737 MAX costs

Boeing Co. is negotiating with banks to borrow at least $10 billion as it grapples with rising costs caused by the global grounding and subsequent pause in production of the 737 MAX aircraft, CNBC reported, citing people familiar with the matter.

The airplane maker has reportedly secured at least $6 billion and is in talks with lenders for more commitments, according to the report's sources.

Boeing did not immediately respond to S&P Global Market Intelligence's request for comment.

Boeing had been considering the possibility of tapping into the bond market to help cover mounting compensation costs, The Wall Street Journal reported earlier in January. The company is also reviewing plans to postpone capital expenditures and acquisitions, as well as cuts to spending on research and development, in an effort to shore up its finances.