Spirit Aero gets help from Boeing, Airbus to prop up weak finances
Spirit AeroSystems said on Tuesday it would receive up to $350 million in advance payments from its largest customer Boeing and up to $107 million from Airbus , giving the struggling supplier a lifeline as it burns cash after four consecutive years of losses.
Update 4:23pm: Adds Spirit confirmation. Airbus (OTCPK:EADSY) agreed to provide revised funding terms to Spirit ...
Spirit AeroSystems is warning that its business viability remains in doubt, saying its cash reserves are drying up due to ...
In Q3, despite its quarterly revenues climbing slightly to $1.47 million from $1.43 million, Spirit AeroSystems’ costs ...
Spirit AeroSystems was the largest independent ... pitch for selling the company to Boeing and carving off other parts related to Airbus, which now owns the A220 line pioneered by Bombardier.
Spirit AeroSystems will start furloughing ... Spirit also makes parts for Boeing rival Airbus, which also plans to buy back some assets as part of the reintegration into Boeing.
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More than 32,000 Boeing machinists walked off the job on Sept. 13 after turning down an earlier tentative agreement.
Spirit AeroSystems builds fuselages and other key parts for both Airbus and Boeing. The Boeing machinist strike in the Seattle region has effectively shut down assembly plants for its 737 MAX ...
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