Boeing CEO confident in defense spending, no matter who wins the 2020 election

published 29.07.2020 22:32

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"Overall, while the pandemic continues to deeply impact our commercial aero business, our balanced portfolio includes a resilient defense business that will help us offset near-term commercial aero headwinds," said CEO Greg Hayes during an analyst call Tuesday.

Revenue for Boeing's defense and space unit was little changed from the second quarter a year ago at $6.6 billion, but sales at its commercial aircraft unit plunged by more than 65% year over year to $1.6 billion.

Defense spending is taking on new importance for the aerospace giant, one of the largest U.S. defense contractors, as its commercial aircraft unit reels from the pandemic.

"I think both candidates, at least in my view, appear globally oriented and interested in the defense of our country and I believe they'll support the industries," Calhoun said on a media call.

Boeing CEO Dave Calhoun said Wednesday that he was confident that whoever wins the White House in November — whether it's President Donald Trump or former Vice President Joe Biden — will continue supporting the defense industry.

by Leslie Josephs from cnbc.com

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