Newspaper articles and television segments have chronicled the financial downfall of the Boeing company this year. Or have they?
Boeing can’t be that broke, not when it is spending $1 billion alone on its plant in South Carolina, according to Reuters.
Boeing plans to spend $1 billion to support increased production of its 787 Dreamliner widebody jets, as the U.S. plane manufacturer works to meet an earlier deadline of 10 a month by 2026.
Boeing said it would expand its operations in the state and add 500 jobs there over the next five years. The Redmond, Washington, based manufacturer plans to keep up with the output of its chief rival, Airbus. Boeing desperately needs an infusion of cash after a door plug blew off one of its planes in midair in January, and it suffered a crippling strike over the summer.
It also has a severe perception problem in the airline industry and with the general public. Supply chain delays didn’t help, either.
Boeing also had a disastrous third quarter in earnings.
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