Boeing will seek federal help -- but won't give taxpayers a stake

Boeing still expects to get some help from the federal government. Just not the same kind of help that the airlines are set to receive. Although the federal government likely will end up owning stakes in the nation's airlines, taxpayers probably won't receive shares of Boeing. The aircraft maker asked for help from the federal government on March 17, as the airlines, hotels, restaurants, retailers and other industries were simultaneously requesting assistance. And there is potential help for Boeing in the $2t coronavirus relief bill that just passed Congress. Although some of those other companies, such as airlines, will likely get direct government grants to weather the crisis, Boeing said it was looking primarily for loan guarantees, which can lower the cost of borrowing and make it easier to find loans. Boeing CEO Dave Calhoun was asked about how he felt about the prospect of the government taking a stake in his company in return for help, he said he was not in favour of such a move. He said that if the government required an equity in exchange for help, that Boeing would "look at all the other options, and we've got plenty of them." "If they attach too many things to it [government assistance], of course you take a different course." That comment prompted Treasury Secretary Steve Mnuchin to suggest Friday that Boeing would not be getting any help from the government.<br/>