Boeing (NYSE:BA) news for Wednesday concerning a funding deal from the U.S. Senate is boosting BA stock up.
The U.S. Senate has been negotiating a deal that would allow it to provide help to people and companies suffering due to the coronavirus from China. It looks like lawmakers are finally reaching an agreement set to go to vote later today.
If this Senate deal goes through, it would be good Boeing news for the company. That’s due to the $500 billion set aside as loans for companies being hit by the coronavirus. Boeing, and airlines, have definitely been feeling the negative impacts of the virus as travel plummets.
This Boeing news means that the company will be able to keep its employees paid as it deals with the new coronavirus. It’s unclear how much of the funding it will receive, but BA says that it needs a minimum of $60 billion to keep things running smoothly, reports The Street.com.
The coronavirus Senate deal isn’t the only positive Boeing news for Wednesday. It also looks like the company is getting closer to starting up production of its 737 Max jet again.
The company is still reportedly looking to start production again in early summer, which may place the restart in May. This comes as the company prepares for the planes to be used again in commercial flights once more. They were grounded in March 2019 after fatal crashes, Investor’s Business Daily notes.
BA stock was up 30.25% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.