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A factory where Boeing manufactures the 737 MAX airplane on April 29 in Renton, Washington. Photo: Stephen Brashear/Getty Images

Boeing does not expect to seek aid from the federal government to offset losses exacerbated by the coronavirus crisis, after selling $25 billion in bonds in the public market, the company said in a Thursday press release.

Flashback: Boeing sought $60 billion in federal aid for the aircraft industry, including suppliers, in March. The Treasury Department had set aside up to $17 billion for Boeing as part of its $2 trillion CARES rescue package, the Wall Street Journal reported earlier this month.

Details: The company's seven-part bond offering, which WSJ reports is "one of the largest-ever," includes maturities ranging from three to 40 years.

Background: Boeing's production shutdown in the aftermath of two fatal crashes last year had already caused forecasts for the company's GDP this year to shrink.

Thought bubble from Axios’ Joann Muller: The huge bond deal is a vote of confidence in Boeing’s staying power, despite the uncertainty caused by the pandemic. Accepting federal aid would have been controversial, as Boeing already faced financial difficulties because of the grounding of its best-selling plane, the 737 Max, prior to the pandemic. CEO David Calhoun also balked at the idea of giving the U.S. Treasury a stake in the company.

Go deeper: Coronavirus threatens to further delay return of Boeing's 737 MAX

Go deeper

Updated Aug 9, 2020 - Politics & Policy

Republicans and Democrats react to Trump's coronavirus aid action

President Trump speaks to workers at a manufacturing facility in Clyde, Ohio, on Thursday. Photo: Scott Olson/Getty Images

Some Republicans joined Democrats in criticizing President Trump Saturday night for taking executive action on coronavirus aid, with Democratic leaders demanding the GOP return to negotiations after stimulus package talks broke down a day earlier.

Why it matters: Trump could face legal challenges on his ability to act without congressional approval, where the constitutional power lies on federal spending. Sen. Ben Sasse (R-Neb.) was the most vocal Republican critic, saying in a statement: "The pen-and-phone theory of executive lawmaking is unconstitutional slop."

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Most COVID-19 survivors can weather risk of reinfection, study says — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: Pfizer begins study on 3rd vaccine dose as booster shot against new strains — Republicans are least likely to want the coronavirus vaccine
  3. U.S. news: California surpasses 50,000 deaths COVID-19 deaths, more than any other state — Jimmy and Rosalynn Carter return to church after receiving COVID-19 vaccines
  4. Local: Public transit ridership in Twin Cities dropped 53% amid pandemic — Data firm predicts "complete chaos" in next phases of Florida's vaccine rolloutAlaska Gov. Mike Dunleavy tests positive for the coronavirus
Updated Aug 9, 2020 - Politics & Policy

Ohio Gov. Mike DeWine again tests negative for coronavirus after positive result

Photo: Justin Merriman/Getty Images

Ohio Gov. Mike DeWine (R) tested negative for COVID-19 for a second time after initially testing positive last week, he announced Saturday.

Why it matters: 73-year-old DeWine was set to meet President Trump Thursday on the tarmac at an airport in Cleveland and was tested as part of standard protocol.

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