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Boeing says it won't seek federal aid after raising $25B

Boeing says it won't seek federal aid after raising $25B
A Southwest Airlines Boeing 737 Max 8 is seen parked at St. Louis-Lambert International Airport in St. Louis, Mo., on March 13, 2019. File Photo by Bill Greenblatt/UPI | License Photo

May 1 (UPI) -- Aviation giant Boeing said it won't seek government financial aid after it raised $25 billion in a bond sale.

Boeing, which had already absorbed billions in losses due to the grounding of the 737 Max, said the bond sale was one of several measures it's taken to keep the company and 17,000 supply-chain businesses afloat.

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"The robust demand for the offering reflects strong support for the long-term strength of Boeing and the aviation industry," Boeing said in a statement Thursday. "It is also in part a result of the confidence in the market created by the CARES Act and federal support programs that have been put in place -- a testament to the [Trump] administration, Congress and the Federal Reserve."

Boeing said it will continue to assess its financial status as the coronavirus pandemic and the fallout evolves.

In March, Boeing asked for $60 billion in federal aid. Congress designated $17 billion to help critical companies and national security interests, including Boeing.

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