Boeing Company is exploring a sale of its Jeppesen navigation unit as the planemaker draws up a list of assets it could shed to help lighten its $58 billion debt load, according to people familiar with the matter, reports Bloomberg.
The company is working with an adviser on the potential sale of the provider of interactive flight plans, said the people, who asked not to be identified discussing confidential matters.
Suitors are already circling Jeppesen, which could attract sizable interest from private equity firms as well as other companies, said the people. The unit could fetch more than $6bn, depending on the buyer appetite and peer group of comparable assets, some of the people said.
Boeing’s shares reversed earlier losses to trade up less than 1 per cent as of 12:19pm in New York yesterday.
A sale process for the asset, which is profitable and commands a broad customer base from airlines to amateur pilots, could happen as soon as the first half of 2025, the people said. Boeing said last month that it will continue to use rather than generate cash in that period as recovers from a 53-day strike that shut down its factories along the West Coast.
The portfolio review is ongoing and Boeing could still decide to hold onto the business, the people cautioned. A spokesman for the company declined to comment.
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