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Boeing could receive billions from stimulus package



It’s not clear, however, whether the company would actually take the funds.

The aerospace giant is among the companies that would qualify for the government-backed loans reserved “for businesses critical to maintaining national security,” and the only one that has made it clear that it needs the assistance.

The company is intricately linked to both the US government and the nation’s economy. It is the country’s largest exporter, is a major government contractor, and consistently ranks among the top 10 companies lobbying federal officials, with millions spent annually. The company has also come under scrutiny from lawmakers and the Federal Aviation Administration after two fatal 737 MAX crashes killed 346 people and internal documents showed the company mocked and belittled its regulators.

Boeing said last week that “a minimum of $60 billion” in public and private loans is necessary “to manage the pressure on the aviation sector and the economy as a whole.” It said it would share “much of any liquidity support to Boeing” with its vast network of suppliers.

Then, CEO David Calhoun suggested Tuesday that the company would turn down federal assistance if it meant US taxpayers would essentially become stockholders in the company. That approach was used to support banks and automakers during the 2008 recession — and the government ultimately sold its stake later for billions of dollars in profit.

“I don’t have a need for an equity stake,” Calhoun said in an interview on Fox…



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