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Boeing Issues Layoff Notices to 17,000 Employees

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Boeing has commenced the process of issuing layoff notices to 17,000 of its employees, a move set to reduce its workforce by 10%. This reduction comes as part of Boeing’s strategic efforts to stabilize its finances amid significant challenges impacting the aviation industry, particularly due to the reduced demand for air travel and aircraft orders…

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Spirit AeroSystems Secures $107M Line of Credit from Airbus

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Spirit AeroSystems, based in the United States, has announced the signing of a Second Amended and Restated Memorandum of Agreement with Airbus. Under this revised agreement, Airbus will extend a $107 million non-interest-bearing line of credit to Spirit AeroSystems, aimed at enhancing Spirit’s operational flexibility and supporting its production commitments. This financial arrangement underscores the close partnership between Airbus and…