Spirit AeroSystems Archives

Airbus secures key Spirit AeroSystems assets to strengthen aircraft production

Airbus has finalised a definitive agreement with Spirit AeroSystems to acquire industrial assets related to its commercial aircraft programmes. Under this agreement, Airbus will take ownership of several key Spirit AeroSystems assets. These include the Kinston site in North Carolina, US, which produces A350 fuselage sections, and the St. Nazaire site in France, which also […]

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Spirit AeroSystems Wichita, Kansas facility © Shutterstock

Spirit AeroSystems reports fourth-quarter loss amid acquisition process

Financial

Spirit AeroSystems reported a US$577 million fourth-quarter operating loss on Friday, February 28, compared with US$215 million in operating income a year earlier, which had been bolstered by a funding agreement with key customer Boeing. The major supplier to the U.S. planemaker reported steep losses for 2024, after warning in November that there was “substantial

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Spirit AeroSystems' shareholders voted in favour of the acquisition by Boeing

Spirit AeroSystems’ shareholders approve acquisition by Boeing

Financial

Spirit AeroSystems Holdings has released that its shareholders have voted in favour of the proposed acquisition by The Boeing Company during a special meeting held on January 31. This approval marks a significant step forward in the merger process, underscoring the confidence shareholders have in the strategic direction of the transaction. The acquisition, which was

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Tex-Tech completes acquisition of Fiber Materials

Financial

Tex-Tech Industries, Inc. (Tex-Tech), a provider of high-temperature and high-performance specialty materials and coatings, has successfully completed the previously announced acquisition of Fiber Materials, Inc. (FMI), based in Biddeford, Maine and Woonsocket, Rhode Island, from Spirit AeroSystems. FMI is a prominent player in the field of high-temperature materials and reinforced composites, specialising in carbon/carbon and

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Spirit AeroSystems sells FMI business for US$165 million

Financial

Spirit AeroSystems has announced a deal to sell its Fiber Materials, Inc. (FMI) business to Tex Tech Industries (Tex Tech) for US$165 million in cash, subject to customary adjustments. The transaction involves FMI’s operations in Biddeford, Maine, and Woonsocket, Rhode Island, which employ approximately 400 engineers and production staff. FMI is a leader in high-temperature

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Spirit AeroSystems secures US$350 million in advance payments from Boeing

Financial

Spirit AeroSystems has announced a critical financial arrangement with Boeing, which will provide the company with up to US$350 million in advance payments. This cash infusion is designed to alleviate some of Spirit’s ongoing financial challenges, including excessive inventory levels, strained operational cash flows and escalating production costs that have put pressure on its balance

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Spirit AeroSystems reports Q2 2024 financial results

Financial

Spirit AeroSystems Holdings (Spirit) has reported its financial results for the second quarter of 2024. Spirit’s revenue in Q2 2024 increased from the same period in 2023, primarily due to higher production activities on most commercial programmes and increased Defence and Space revenues, partially offset by lower production volume on the Boeing 737 programme. Overall

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Boeing to acquire Spirit AeroSystems in an all-stock transaction

Financial

Boeing has entered into a definitive agreement to acquire Spirit AeroSystems. The merger is an all-stock transaction valued at approximately US$4.7 billion, or US$37.25 per share. Including Spirit’s last reported net debt, the total transaction value is approximately US$8.3 billion. Each share of Spirit common stock will be exchanged for a number of shares of

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Irene Esteves has been appointed CFO of Spirit AeroSystems

Irene Esteves appointed as Spirit AeroSystems’ new CFO, succeeding Mark Suchinski

People

Irene Esteves is set to take over the role of Chief Financial Officer at Spirit AeroSystems, stepping into the shoes of Mark Suchinski who has held the position since 2017. Esteves brings a wealth of experience to the role, having held various executive positions in finance and strategy across different industries. Her appointment reflects Spirit

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Spirit AeroSystems announces job cuts amid financial challenges

Other News

In response to mounting financial difficulties and a decline in deliveries to Boeing Co., Spirit AeroSystems Holdings Inc. intends to trim its workforce by approximately 450 employees at its Wichita, Kansas headquarters. The reduced production of 737 Max airframes and other components has necessitated a downsizing, according to a spokesperson representing the company. Affected staff

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Airbus secures key Spirit AeroSystems assets to strengthen aircraft production

Spirit AeroSystems reports fourth-quarter loss amid acquisition process

Spirit AeroSystems’ shareholders approve acquisition by Boeing

Tex-Tech completes acquisition of Fiber Materials

Spirit AeroSystems sells FMI business for US$165 million

Spirit AeroSystems secures US$350 million in advance payments from Boeing

Spirit AeroSystems reports Q2 2024 financial results

Boeing to acquire Spirit AeroSystems in an all-stock transaction

Irene Esteves appointed as Spirit AeroSystems’ new CFO, succeeding Mark Suchinski

Spirit AeroSystems announces job cuts amid financial challenges

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