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Boeing says it will resume airplane production starting next week

The aerospace space giant is restarting operations at its facilities in Washington State by bringing back 27,000 workers

Boeing Co - Boeing will resume airplane production starting next week
Boeing Chief Executive Dave Calhoun told employees in a letter that the aerospace industry will need financial help from the government

Boeing Co (NYSE:BA) said after-hours on Thursday that it will resume limited airplane production in Washington State next week, more than three weeks after operations were shut down due to the coronavirus (COVID-19) pandemic.

The aerospace giant said 27,000 workers will return to Boeing’s Puget Sound-area facilities to make the 747, 767, 777 on April 20.

Separately, Reuters reported that employees in the Puget Sound-area working on the 787 Dreamliner will also return on April 23 or April 24. The South Carolina plant, however, which also makes the Dreamliner will remain closed.

READ: Meggitt's growth to be constrained by the coronavirus fall-out and grounding of the Boeing's 737 MAX

Meanwhile, Boeing said it has already resumed work on military versions of its jetliners this week, bringing back 2,500 staff.

Still, Boeing has hit an air pocket with analysts already trimming forecasts for commercial deliveries this year to between 100 and 200 jets. The company is continuing discussions about restructuring orders and deferring deliveries.

Boeing chief executive Dave Calhoun told employees in a letter seen by Reuters that the aerospace industry will need financial help from the government.

“Our industry will need the government’s support, which will be critical to ensuring access to credit markets and likely take the form of loans versus outright grants,” Calhoun told employees in the letter.

“Our team continues to focus on the best ways to keep liquidity flowing through our business and to our supply chain until our customers are buying airplanes again,” he added.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

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NYSE:BA
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