Yahoo TV

STORY: Boeing sought to shore up its sagging finances on Tuesday as a bitter worker strike entered its second month.

The planemaker announced plans to raise up to $25 billion through stock and debt offerings and a $10 billion credit agreement with major lenders.

Boeing is grappling with a slump in production of its best-selling 737 MAX jet following a mid-air door panel blowout earlier this year and a prolonged strike by thousands of union factory workers.

The strike is costing the company more than $1 billion a month, according to one estimate.

Boeing announced it would cut 17,000 jobs, or 10% of its workforce - with 60-day notices going out as soon as next month, according to a source.

It was not clear when and how much the planemaker would eventually raise through the offering...

but analysts estimate $10 billion to $15 billion is needed for Boeing to be able to maintain its credit ratings, which are now just one notch above junk.

Emirates Airlines President Tim Clark this week became the first senior industry figure to articulate fears over Boeing's ability to tackle its worst-ever financial crisis, telling a trade publication there could be a bankruptcy filing in Boeing's future.

Meanwhile, U.S. Acting Labor Secretary Julie Su met with Boeing and the International Association of Machinists and Aerospace Workers in Seattle on Monday in a bid to break the strike deadlock.