Boeing is raising $10 billion from 4 major banks — and could sell another $25 billion in securities

Boeing announced plans to lay off 17,000 people last Friday.

Boeing plans to raise up to $35 billion to help steady its finances as a machinists’ strike enters its fifth week.

In a Tuesday regulatory filing, the planemaker said it had entered a $10 billion credit agreement with Bank of America, Citibank, Goldman Sachs, and JPMorgan Chase.

Boeing also filed a prospectus stating that it may sell up to $25 billion in securities, including bonds, new shares, and stock options.

Boeing did not immediately respond to a request for comment sent by B-17.

The storied planemaker has seen its share price fall 40% since the start of the year as it battles numerous challenges. Credit ratings agencies have also warned that its bonds may be downgraded to junk status.

Some 33,000 workers have been on strike since mid-September, demanding increased pay and the restoration of a traditional pension plan.

Ron Epstein, a Bank of America analyst, estimated the strike is costing Boeing $50 million a day. In an analysis shared with CNN, Anderson Economic Group estimated it had cost $5 billion over the past month.

Labor Secretary Julie Su flew to Seattle to mediate after tensions heated up. Both sides accused the other of bargaining in bad faith as Boeing withdrew its offer to the union.

Last Friday, Boeing announced plans to lay off 17,000 workers — as well as a further delay to its much-anticipated 777X jet, now expected to launch in 2026.

Boeing expected a charge of $2.6 billion as a result. Sir Tim Clark, the president of Emirates, the largest 777X customer, said the airline would have “a serious conversation” with Boeing.

The planemaker’s punishing year began with a door plug coming off an Alaska Airlines 737 Max midflight. Customers’ frustrations in the aftermath saw then-CEO Dave Calhoun leave the company. His replacement, Kelly Ortberg, joined Boeing in August.

Boeing’s space business also faltered when problems with its Starliner spacecraft saw two astronauts spend months longer than planned on board the International Space Station.

NASA decided Starliner would return to Earth uncrewed, and SpaceX would bring the astronauts back home next February instead.