Spirit AeroSystems has reached an agreement with Boeing regarding certain claims associated with the development and production of the 787-8 airplane in December 2010. “Working closely with our largest customer, we have developed a fair and equitable framework that reflects current program financial realities and reinforces a partnership that provides the basis for long-term value creation on the program for both Spirit and Boeing,” said Phil Anderson, Spirit Senior Vice President and Chief Financial Officer.
The agreement provides that the parties will complete formal amendments in the first half of 2011. The company expects to include any impact of the agreement in its Fourth Quarter and Full Year 2010 Financial Report planned for February 10, 2011. Spirit AeroSystems designs and builds the composite forward fuselage, engine pylons, and wing leading edge components for the 787 program.
