Just announced that Boeing has booked 46 cancellations with a net loss of 28 orders AND has blown through it entire $14B loan to keep it afloat!
Um... It did not BLOWN THRU its $14B loan. The article clearly says it "draws down" on the loan. If you have had a personal revolving credit line before, you would know what it means. This is how it works. During good times, you negotiated with a bank (or any lender) to provide you with a credit line. Say you get a $1000 credit line from your bank. You get the line, but you have not touched it. You don't get charged and you don't need to pay any interest, because you have not actually taken any of that $1000 out. The $1000 is still with the bank, but you have the right to take up to $1000 out any time.
What Boeing does, is that in the current state of financial panic, it is rightfully afraid that the terms of the line may change, or it may need some cash suddenly, so out of caution, it decided to draw the money out from the line first, and put that in its own bank account. The net effect is that it means it needs to start paying interest in whatever amount it has drawn, but it also means that it would be able to access the cash much faster if needed sometime down the road.
The bigger thing is, from Accounting perspective, the $14B will now appear in the balance sheet and cash flow statement of Boeing, i.e. $14B in asset and liabilities, and also $14B of cash sitting there. If the money is in the line and not drawn, it's not an asset of Boeing.
Many companies are doing this in the last two days, not just Boeing, but notably many in the travel industry. That's why the Fed has boosted its Repo participation to provide more cash into the market, so that banks can facilitate the "drawing down" of line of credit by so many companies at the same time. The market is certainly distressed and liquidity is getting scarce, but Boeing and many participants of the hard-hit industries are far from running out of cash.
Note that bankruptcy means it cannot meet its immediate cash obligation, e.g. if it has a loan to repay on X day that it doesn't have sufficient cash to do. Even if a company does not have cash reserve to repay that loan, but somehow it can get another loan in the market to get the cash to repay the maturing loan, it would not go bankrupt.
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