Boeing Sells Defense Subsidiary to Thales

(Reuters) – Boeing announced the sale of Digital Receiver Technology, a defense subsidiary specializing in surveillance equipment for the U.S. military, to Thales Defense & Security.

This move aims to improve Boeing's financial situation amidst ongoing challenges. While the terms of the deal remain undisclosed, the sale aligns with Boeing's strategy to address its struggling finances.

Boeing stated the details in a statement on Sunday, following a report from The Wall Street Journal which noted the agreement but did not specify the unit involved.

Last week, Boeing indicated it might raise as much as $25 billion through stock and debt options, in response to threats against its investment-grade credit rating due to production delays and safety issues. Furthermore, a month-long strike affecting its production in the U.S. has also been a significant concern.

In related news, workers on the West Coast, particularly in Washington state, will vote on a new contract proposal that could potentially conclude the strike impacting the production of key models like the 737 MAX, 767, and 777 jets.