Boeing Co. agreed to sell its Jeppesen navigation unit and related assets to Thoma Bravo for $10.6 billion in cash, handing the planemaker funds it can use to lighten its debt load.

The deal, with the private equity firm Thoma Bravo, will help the struggling aerospace manufacturer pay down debt and streamline its operations.

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.