Is Boeing being grounded by China?
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 15 April 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | It's good to have you here on this Tuesday, April 15th. I'm Julie Morgan. |
| 0:13.7 | Is China putting the brakes on Boeing? Hertz is dealing with debt drama, and Netflix has a trillion dollar dream. |
| 0:22.0 | China has reportedly instructed its domestic airlines to not accept any further deliveries |
| 0:27.2 | of Boeing's jets, escalating tensions in the ongoing trade dispute with the U.S., |
| 0:32.9 | where President Trump has imposed tariffs of up to 145% on Chinese imports. |
| 0:39.3 | In addition, Bloomberg reported citing sources familiar with the matter |
| 0:43.3 | that Beijing has directed its airlines to stop buying aircraft components |
| 0:47.9 | and related equipment from American suppliers. |
| 0:51.0 | The Chinese government is also reportedly exploring options to support airlines |
| 0:56.2 | that lease Boeing aircraft and are now dealing with increased expenses. Shares of Boeing are down |
| 1:02.6 | 2.5% in pre-market action. Hertz Global has hired investment bankers and legal advisors on options regarding its capital structure amid a legal battle with its bondholders, over a $300 million make-hole payout, according to sources cited by Bloomberg. |
| 1:21.7 | The company currently has in excess of $6 billion in debt, including a $500 million junk bond sold in December that was used |
| 1:30.3 | to repay borrowings. During the company's bankruptcy restructuring process, a federal appeals judge |
| 1:36.2 | awarded certain bondholders a make-whole payment of $300 million, an amount intended to compensate |
| 1:42.8 | bondholders for interest payments and fees for |
| 1:45.9 | being paid back early as part of the Hertz bankruptcy. The two parties have been debt locked in |
| 1:51.2 | negotiations over the correct amount due to bondholders. Separately, Hertz said late Monday that hackers |
| 1:58.0 | had breached company records that were stored with its file transfer vendor |
| 2:02.3 | Cleo Communications and obtained personal information from customers between October and December |
| 2:08.8 | of 2024. Hertz closed 3% higher on Monday, but it's giving back some of those gains, is down 1.6% in pre-market action. |
| 2:20.6 | Netflix is aiming to hit a $1 trillion market cap and a doubling of its revenue by 2030. |
... |
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