Dividends take back seat as Boeing girds for slow recovery
Even before Covid-19 broke out, Boeing already faced pressure after two crashes of its 737 MAX killed 346 people, leading to the plane’s global grounding since March last year. – EPA pic, April 28, 2020.
BOEING’S chief yesterday said restoring dividends could take three to five years as the company girds for a slow air travel recovery in the wake of the coronavirus crisis. The comment by CEO David Calhoun signals that paying back debt and keeping up Boeing’s manufacturing supply chain are bigger priorities than shareholder payouts for the foreseeable future.
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