Boeing Capital

Last updated
Boeing Capital
Company type Subsidiary
Industry Aerospace
Founded1968;56 years ago (1968)
Headquarters Renton, Washington
Parent Boeing Commercial Airplanes

Boeing Capital is a subsidiary of Boeing Commercial Airplanes, providing aircraft leasing and lending services. [1] Boeing Capital is made up of two divisions, Aircraft Financial Services and Space & Defense Financial Services. It operates as a support unit for Boeing's main businesses. [2] [3]

History

Boeing Capital was incorporated in 1968 as McDonnell Douglas Finance,[ citation needed ] but this name was changed to Boeing Capital in 1997, when Boeing merged with the McDonnell Douglas Corporation. [4] [5]

The subsidiary is known as a worldwide provider of financial services, but primarily supports its parent corporation. [6]

In September 2018, Boeing, Boeing Capital and insurance firm Marsh & McLennan were sued for having stolen Xavian Insurance's actuarial analysis to create the Aircraft Finance Insurance Consortium (better known as AFIC) to replace financing from the US-Exim Bank, which at that time could not take new business because Congress had refused to recharter it. [7]

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References

  1. "Boeing Capital Corp.: Private Company Information". Bloomberg. Archived from the original on 20 January 2018. Retrieved 20 January 2018.
  2. "Boeing unveils new unmanned cargo air vehicle prototype". Tech Startups. 10 January 2018. Archived from the original on 20 January 2018. Retrieved 20 January 2018.
  3. "Boeing Company (The) (BA) Stake Decreased by Regentatlantic Capital LLC". BangaloreWeekly. 16 January 2018. Retrieved 20 January 2018.
  4. Journal, Jeff ColeStaff Reporter of The Wall Street (1996-12-16). "Boeing Agrees to Acquire Archrival McDonnell Douglas". Wall Street Journal. ISSN   0099-9660 . Retrieved 2020-05-01.
  5. Knowlton, Brian; Tribune, International Herald (1996-12-16). "Boeing to Buy McDonnell Douglas". The New York Times. ISSN   0362-4331 . Retrieved 2020-05-01.
  6. Frost, Colin. "Short Term Outlook For The Boeing Company (NYSE:BA)". Top Chronicle. Archived from the original on 20 January 2018. Retrieved 20 January 2018.
  7. "Boeing,insurance firm stole trade secrets, launched ExIm Bank funding replacement, lawsuits charge". Leeham News. Sep 11, 2018.