Boeing is considering raising at least $10 billion worth of shares, Bloomberg News By Reuters reports

(Reuters) – Boeing (NYSE: ) is considering raising at least $10 billion by selling new shares, Bloomberg News reported on Tuesday, citing people familiar with the discussions.

The plane maker is working with advisers to explore its options, the report said, adding that the equity raise would not take place for at least a month.

Boeing did not immediately respond to Reuters’ request for comment. Reuters has not independently verified the report.

The planemaker has been under pressure from declining production of its best-selling 737 MAX jet after an incident in January when a door panel blew up a new model.

Its finances were further strained after about 30,000 Boeing workers represented by the International Machinists and Aeronautics Association in the Seattle and Portland areas walked off the job in September.

Boeing carries heavy debt of about $60 billion and posted operating cash losses of more than $7 billion in the first half of 2024, according to data compiled by LSEG.

The US planemaker has previously signaled it would consider issuing shares as it grapples with ongoing safety issues exposed by the January eruption and looming debt maturities.

Industry experts said Boeing will likely need to raise cash by the end of 2024, with some analysts and investors expecting the company to raise between $10 billion and $12 billion.

Boeing has just under $4.6 billion in bonds and loans due through the end of 2025, according to data compiled by LSEG.

The planemaker’s shares fell 1.3 percent in premarket trading.