Shares of Boeing Co. BA climbed 3.6% in premarket trading Wednesday, after the aerospace and defense giant reported a first-quarter loss that was less than half what was expected, as commercial airplane revenue surged.

Boeing has agreed to sell parts of its digital aviation unit to private equity group Thoma Bravo for $10.55bn as the US group seeks to bolster its financial position. Virginia-based Boeing said on Tuesday it had agreed to sell its digital aviation solutions business - including its Jeppesen assets,

The business, which Boeing acquired in 2000 for $1.5 billion in cash, is one of the noncore assets that the plane-maker is seeking to shed to lighten its $58 billion debt load.