The bank, which now rates Boeing “neutral”, said the added hit from the coronavirus to airlines made it impossible to stick with its call that investors should wait out the grounding of the company’s 737 MAX planes this year. Boeing said on Wednesday it was freezing new hiring and overtime except in certain critical areas to preserve cash, and the company is also moving to draw down funds from existing loan facilities as it battles the worst crisis in its history. “Our desire to hang in with Boeing until the return of the 737 MAX has worked out …read more
Source:: Yahoo Finance
