Boeing (NYSE:BA) on Thursday successfully raised $25 billion in fresh liquidity via a bond sale, more than doubling the size of its planned offering after receiving robust interest in the debt.

The aerospace giant was said to be working with a range of investment banks on a reported $10 billion bond sale, but according to CNBC's David Faber, Boeing raised the size of its offering after finding interest in upwards of $70 billion worth of the debt. Boeing has already fully drawn down a $14 billion term loan and has suspended its dividend in an effort to preserve cash and ride out a COVID-19 pandemic-prompted slowdown in airline traffic.

Earlier this week, Boeing said that its total debt grew by 42% in the first quarter compared to year's end. The company burned through $4.7 billion in the first quarter and expects to continue to bleed cash at least until its 737 Max is cleared to resume flying, which will not happen before the third quarter at the earliest.

A Boeing Dreamliner in flight.

Image source: Boeing.

The fund raising is important to make sure Boeing remains solvent, but there is no quick solution to the problems facing the company. CEO David Calhoun during a post-earnings call with investors said he expects it to take "two to three years" for travel to return to 2019 levels, and "a few years beyond that" before the airline industry really returns to growth.