Boeing looks into raising debt to boost finances

Aerospace giant Boeing has floated plans to raise more debt as part of an effort to bolster its finances following the continued grounding of its 737 MAX jet.

According to the Wall Street Journal, citing people familiar with the matter, Boeing was also considering deferring some capital expenditures, freezing acquisitions and cutting spending on research and development in order to preserve cash.

The Chicago-based planemaker said it would halt production of the 737 MAX later in the month following the fleet's grounding back in March after two fatal crashes in five months killed 346 people.

And on Saturday, Boeing and the Federal Aviation Administration confirmed that they were reviewing a wiring issue that could potentially cause the grounded 737 MAX to short circuit.

Back in December, Boeing's board fired chief executive Dennis Muilenburg after he repeatedly failed to contain the fallout from the crisis, which has cost the company $9bn.

As of 1345 GMT, Boeing shares were down 1.28% in pre-market trading at $328.50 each.