Report Says Boeing Eyeing Sale Of Jeppesen

Bloomberg reported that Jeppesen could top Boeing CEO Kelly Ortberg's list of non-core assets being sold to shore up the planemaker's balance sheet. Bloomberg, quoting unnamed sources, said the company is looking for $6 billion for the world's largest provider of aviation charts and air navigation materials to help whittle down its $58 billion in debt. It paid $1.5 billion for the company in 2000 and it's been a reliable cash cow ever since. Boeing also owns digital chart provider ForeFlight, which serves Jeppesen data, but there was no mention of ForeFlight in the Bloomberg report.

ForeFlight fits the profile of business units Ortberg is looking to hive off. He announced early in his tenure that he'll look at getting rid of anything that doesn't directly contribute to the core airliner and defense businesses. There are reportedly a number of businesses, including hedge funds, lining up for a crack at Jeppesen and that's prompted speculation that the historic chart business, which dates to the 1930s, may go for more than the asking price.