Seattle, Jan 17: Aerospace giant Boeing’s finance unit on Thursday said it was considering selling part of its portfolio worth USD 2.3bn, saying the unit was not part of its “core” strategic focus. Boeing Capital said in a statement it had hired Credit Suisse First Boston to help plan its strategy, which could also include selling off part of the commercial finance portfolio or gradually unloading its assets.

Commercial jets comprise the vast majority of Boeing’s USD 12.2bn portfolio, with the commercial finance segment covering business aircraft, ships, machine tools and other industrial equipment. The company said it would relocate most of its operations in Long Beach , California , to its headquarters in Renton , Washington , in a cost-cutting move affecting about 90 staffers.
Bureau Report