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

• Boeing has entered a $10 billion credit agreement with four banks, it said in a filing Tuesday.
• In a separate filing, the planemaker said it may also sell up to $25 billion in securities.
• Boeing has faced numerous challenges in 2024, including a monthlong strike and planned layoffs.

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 saying that it may sell up to $25 billion in securities , including bonds, new shares, and stock options.

"These are two prudent steps to support the company's access to liquidity," Boeing said in a statement, adding that the fundraising would help it "navigate through a challenging environment."

The storied planemaker has seen its share price fall 40% since the start of the year as it battles several challenges. Credit-ratings agencies have said 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 was costing Boeing $50 million a day . In an analysis shared with CNN , Anderson Economic Group estimated the strike had cost the planemaker $5 billion over the past month.

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

On 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. 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. Amid customers' frustrations in the aftermath, then-CEO Dave Calhoun left the company. His replacement, Kelly Ortberg , joined Boeing in August.

Boeing's space business also faltered when problems with its Starliner spacecraft led to two astronauts spending months longer than planned on board the International Space Station.

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

Do you work at Boeing? Reach out to this reporter at psyme@businessinsider.com .