Troubled Boeing signals it may raise up to $25 billion to shore up finances

Boeing signaled Tuesday that it could raise up to $25 billion in new stock or debt to shore up its balance sheet after years of heavy losses.

The company said in back-to-back regulatory filings that it could raise the cash over the next three years and enter into a new borrowing agreement with lenders.

Boeing has lost more than $25 billion since the start of 2019, and its finances are under new pressure as a strike by workers who build most of its airline jets factory goes into its second month. The strike is cutting into cash, which Boeing receives when it delivers new planes to buyers.

Boeing has burned through more than $1 billion in cash and ended September with $10.3 billion in cash and securities.

On Friday, new CEO Kelly Ortberg said Boeing will cut about 10% of its workforce – around 17,000 jobs – and pushed back the launch of a new model of its large 777 airliner.

Production of current models of the 777 and Boeing’s best-selling plane, the 737 Max, have been halted by the strike.

Boeing's securities filings Tuesday are called shelf registrations, which indicate that a company has the ability to raise funds without committing to doing anything.

The company also said that it entered into a $10 billion supplemental credit agreement with several leading U.S. banks.

Shares of The Boeing Co, based in Arlington, Virginia, rose less than 1% Tuesday.

FILE - A Boeing 737 Max jet prepares to land at Boeing Field following a test flight in Seattle, Sept. 30, 2020. Two U.S. senators have asked the Department of Justice to take tougher action against Boeing executives by holding them criminally accountable for safety issues that have impacted its airplanes, Thursday, Oct. 3, 2024. (AP Photo/Elaine Thompson, File)

FILE - The Boeing logo is displayed at the company's factory Tuesday, Sept. 24, 2024, in Renton, Wash. (AP Photo/Lindsey Wasson, File)

Troubled Boeing signals it may raise up to $25 billion to shore up finances

FILE - Unpainted Boeing 737 Max aircraft are seen on Sept. 24, 2024, at the company's facilities in Renton, Wash. (AP Photo/Lindsey Wasson, File)

Troubled Boeing signals it may raise up to $25 billion to shore up finances

NEW YORK (AP) — Scientists for the first time have uncovered an underworld of animal life thriving beneath the seafloor.

An expedition to a volcanically active ridge in the Pacific off South America has revealed worms, snails, giant tubeworms and other strange creatures lurking below steamy underwater hot springs.

Researchers have long studied animal communities near such hydrothermal vents. Many thought only microbes and viruses could survive underneath. To their surprise, an underwater robot last summer overturned volcanic slabs and found diverse life under the vents.

“This was totally unexpected,” said study co-author Sabine Gollner with the Royal Netherlands Institute for Sea Research.

Young critters from above the seafloor could be traveling through the vents to settle in the depths, Gollner said.

The research published Tuesday in the journal Nature Communications.

Future studies will help reveal whether colonies of animal life exist below other hydrothermal vents around the globe.

“This is an initial discovery that's really promising,” said Jason Sylvan, a microbiologist at Texas A&M University who was not involved with the research.

AP video producer Zara Eldridge contributed to this report from London.

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

In this photo provided by Schmidt Ocean Institute, an eelpout swims by a tower of tubeworms at the Tica Vent, a site on the East Pacific Rise 2,500 meters deep. (Schmidt Ocean Institute via AP)

In this photo provided by Schmidt Ocean Institute, a rock crust sample, upside down, reveals Oasisia and Riftia tubeworms, as well as other organisms. (Schmidt Ocean Institute via AP)

In this photo provided by Schmidt Ocean Institute, experiments code-named "Mesh Box Staining Gadgets" are sealed to the seafloor at the Tica Vent, a site on the East Pacific Rise 2,500 meters deep. (Schmidt Ocean Institute via AP)