BOEING TO DRAW DOWN BILLIONS IN LOAN CASH AS PRESSURE BUILDS

(Reuters) - Boeing Co (BA.N) is planning to draw down the rest of a $13.8 billion loan it agreed last month, a source told Reuters on Wednesday, as the coronavirus outbreak adds to pressure on the U.S. plane-maker due to the grounding of its 737 MAX jets.

The source said that the company was taking the step because of overall market volatility and not due to the changing of the return to service date of its 737 MAX aircraft, which has been steadily pushed out and is now expected at earliest mid-year.

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