Boeing Co. has asked White House and Congressional officials for short-term aid for itself, suppliers and airlines as the outlook for the travel industry worsens by the day because of the coronavirus outbreak, Bloomberg News reported. The U.S. planemaker is seeking to avoid layoffs and damage to hundreds of smaller companies that make parts and systems for its aircraft, said the people, who asked not to be named because the talks are private. Boeing has also been buffeted by the grounding of its best-selling 737 Max, which awaits regulatory clearance to resume flights after two deadly crashes. Boeing, European rival Airbus SE and a constellation of suppliers are navigating the sharpest industry downturn since at least the 9/11 terrorist attacks as nations close borders and airlines ground fleets of aircraft. Airbus today said that it would pause production and assembly at French and Spanish plants for the next four days to put in place health measures, including cleaning and self-distancing. The aerospace sector faces “extreme disruptions” in the near term and possibly beyond, Ron Epstein, an analyst with Bank of America Corp., said in a report to clients Monday. In a statement, Boeing confirmed that “ongoing, positive discussions continue with government and industry leaders” — including in the Trump administration and Congress. Near-term access to public and private funds is key for the entire aerospace industry, which has a strong long-term outlook but an “urgent challenge” from the virus, the company said. “Short-term access to public and private liquidity will be one of the most important ways for airlines, airports, suppliers and manufacturers to bridge to recovery,” Boeing said in the statement. “We appreciate how the administration and Congress are engaging with all elements of the aviation industry during this difficult time.”
