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(Bloomberg) -- Boeing Co.’s potential sale of its Jeppesen navigation unit is attracting major aviation suppliers and private equity suitors ahead of the deadline for first-round bids next week, according to people familiar with the matter.
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RTX Corp. and Honeywell International Inc. are among the companies that have been evaluating Jeppesen, the people said, asking not to be identified because the information is private. The asset is attracting early interest from buyout firms including Advent, Blackstone Inc., Carlyle Group Inc., Thoma Bravo, Veritas Capital and Warburg Pincus ahead of the Jan. 29 deadline, the people said.
GE Aerospace and TransDigm Group Inc. are also among potential bidders that may study the business, the people said. Jeppesen, which provides interactive flight plans, could fetch $6 billion to $8 billion for Boeing, the people said.
Deliberations are ongoing and it’s unclear which suitors will proceed with formal bids. The airplane manufacturer hired advisers late last year to explore a divestment of Jeppesen, though it could still opt to keep the business.
Boeing said in a statement that it doesn’t comment on market rumors or speculation. Representatives for RTX, GE, Advent, Blackstone, Carlyle, Thoma Bravo and Warburg Pincus declined to comment. Spokespeople for Honeywell, TransDigm and Veritas didn’t immediately respond to requests for comment.
Boeing has been looking to lighten its debt burden as the embattled planemaker recovers from a series of missteps. It’s been grappling with the fallout from a near-catastrophic accident in January 2024 that slowed production of its top-selling 737 Max airliner, as well as a 53-day strike that shut down its factories along the West Coast.
Jeppesen is profitable and commands a broad customer base from airlines to amateur pilots. The business, which Boeing acquired in 2000 for $1.5 billion in cash, is among the non-core assets that Boeing is considering shedding as the planemaker looks to lighten its $58 billion debt load.
Boeing Chief Executive Officer Kelly Ortberg has said he’s reviewing the company’s portfolio to study whether a business or product fits with the long-term strategy or whether it would be better off someplace else. The portfolio changes, which may also include unprofitable government programs, are expected to be a focal point for investors when the planemaker reports earnings on Jan. 28.