Boeing is planning to generate nearly $19 billion through a stock sale as the aerospace corporation grapples with a disruptive strike and seeks to enhance its liquidity.

On Monday, Boeing Co. announced its intention to issue 90 million shares of common stock along with $5 billion in depositary shares. The company’s stock price closed at $155.01 on the previous Friday.

The proceeds from this stock offering are expected to be utilized for various corporate needs, which could involve debt repayment, enhancing working capital, capital expenditures, and financing its subsidiaries.

Recently, employees at Boeing voted against the latest contract proposal, which has resulted in a prolonged strike lasting six weeks that has impacted the production of the company’s most popular jetliners.

Union representatives in Seattle stated that a staggering 64% of the members of the International Association of Machinists and Aerospace Workers who participated in the vote chose to reject the offer.

This labor dispute is occurring amidst a difficult period for Boeing, especially after the company has been subjected to several federal investigations, following an incident in January in which a door panel detached from a 737 Max aircraft during a flight with Alaska Airlines.

The ongoing strike has resulted in significant financial losses for the company, as deliveries of new aircraft to airlines are one of its primary revenue sources. Just last Wednesday, Boeing reported a substantial loss of over $6 billion for the third quarter. The manufacturer has not recorded a profitable year since 2018, and the latest figures represent one of the most detrimental quarters in its long history.

Boeing experienced a cash outflow of nearly $2 billion during the quarter, exacerbating its challenging financial situation, which reflects a hefty debt load of $58 billion. Chief Financial Officer Brian West indicated that the company does not expect to achieve positive cash flow until the latter half of next year.

Consequently, Boeing’s stock declined by nearly 2% in pre-market trading.