Bloomberg Businessweek

WHEEL OF BAILOUTS

Businesses are lining up to request government aid in the wake of the coronavirus. But do even critical companies like Boeing really deserve it?

With stock markets cratering and the world’s airlines tumbling into their deepest crisis ever amid the novel coronavirus pandemic, Boeing Co. got right to the point last week: The U.S. aerospace industry would need a $60 billion bailout. It was quite a comedown for a plane maker used to calling the shots as one-half of a lucrative duopoly with Europe’s Airbus SE. Little more than a year ago, Boeing was the most valuable U.S. industrial company, with a market capitalization of about $249 billion. By March 24 about $175 billion of that had been wiped out, with Boeing ranking last in stock returns on the Dow Jones Industrial Average.

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