Spirit AeroSystems Archives

Boeing to provide Spirit AeroSystems with US$425 million advance payments

Spirit AeroSystems has disclosed an agreement with Boeing, whereby the aerospace giant will furnish advance payments totalling US$425 million, according to REUTERS news agency. This agreement aims to assist Spirit in addressing challenges such as elevated inventory levels and reduced cashflows, following the U.S. aviation regulator’s imposition of a production cap on Boeing’s 737 MAX […]

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Spirit AeroSystems adapts to Boeing’s 737 MAX production decline

MRO & Production

Boeing‘s principal supplier, Spirit AeroSystems, has told REUTERS news agency that it is curbing overtime and recruitment efforts in response to a decrease in output of 737 MAX jets. The production of Boeing’s MAX aircraft has significantly declined in recent weeks, attributed to heightened factory inspections by U.S. regulators and a slowdown in assembly line

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Boeing explores acquisition talks with Spirit AeroSystems

Financial

Boeing has revealed on Friday, March 1, its preliminary discussions regarding the potential acquisition of Spirit AeroSystems, its former subsidiary, as part of the company’s strategic response to a crisis triggered by a mid-air panel blowout on January 5. The aerospace giant, aiming to regain control in the aftermath of the incident, expressed confidence that

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Jane Chappell joins Spirit AeroSystems’ Board of Directors

People

Spirit AeroSystems Holdings has released that Jane P. Chappell will join the company’s Board of Directors, effective February 26, 2024. She will serve on the Corporate Governance and Nominating Committee and the Risk Committee. Chappell has more than four-decades of experience, 17 years at the executive level, providing operational and strategic leadership in the defence

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Boeing faces potential delays in 737 MAX deliveries amidst new production glitches

Aircraft & Engines

Boeing, the beleaguered US aircraft manufacturer, may encounter further setbacks in delivering its popular 737 MAX planes as a supplier identified incorrectly drilled holes, prompting additional work on approximately 50 undelivered aircraft. Spirit AeroSystems, the supplier, uncovered two holes drilled inaccurately, causing Boeing’s stock to drop by 2.2%, with Spirit experiencing a 3.9% decline. This

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Spirit AeroSystems and Boeing reach agreement for enhanced production stability

MRO & Production

In a significant development, Spirit AeroSystems Holdings disclosed on October 18, 2023, that its subsidiary, Spirit AeroSystems has entered into a Memorandum of Agreement (MoA) with The Boeing Company. This landmark agreement is poised to foster increased collaboration, ultimately leading to higher quality and more reliable deliveries in the future. Patrick M. Shanahan, President and

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Spirit AeroSystems appoints Patrick M. Shanahan interim President and CEO

People

Spirit AeroSystems has released that Patrick M. Shanahan, a member of the company’s Board of Directors, has been appointed interim President and Chief Executive Officer (CEO), effective immediately. Shanahan succeeds Thomas C. Gentile III as President and Chief Executive Officer. Gentile has resigned as a member of the Board, effective September 30, 2023. The company’s

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Spirit AeroSystems, VAECO sign agreement for MRO services in Vietnam

MRO & Production

Spirit AeroSystems has signed a maintenance, repair and overhaul service agreement through its subsidiaries with Vietnam Airlines Engineering Limited Company (VAECO) at the MRO Asia-Pacific Exhibition in Singapore. Established in 2009, Vietnam Airlines Engineering Limited Company (VAECO), with 2,500 workers, is the largest and most experienced aircraft maintenance service provider in Vietnam. The company, a

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Spirit AeroSystems looks to renegotiate unsustainable Airbus and Boeing contract

MRO & Production

Spirit AeroSystems (Spirit), has asked both Boeing and Airbus to soak up a greater percentage of the financial problems created by inflation which has made current contracts “not sustainable,” Spirit CEO Tom Gentile said on Thursday this week. Spirit is a major supplier of parts for jetliners/ In H1 2023, Spirit took approximately US$215 million

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Spirit AeroSystems not guilty of misleading investors

Other News

The United States Court of Appeal has decided to uphold an earlier decision to dismiss a lawsuit brought by Spirit AeroSystems’ investors. A three-judge panel of the Denver-based 10th U.S. Circuit Court of Appeals ruled 2-1 that investors pursuing the proposed class action against Spirit had not met the “stiff burden” required for allegations of

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Boeing to provide Spirit AeroSystems with US$425 million advance payments

Spirit AeroSystems adapts to Boeing’s 737 MAX production decline

Boeing explores acquisition talks with Spirit AeroSystems

Jane Chappell joins Spirit AeroSystems’ Board of Directors

Boeing faces potential delays in 737 MAX deliveries amidst new production glitches

Spirit AeroSystems and Boeing reach agreement for enhanced production stability

Spirit AeroSystems appoints Patrick M. Shanahan interim President and CEO

Spirit AeroSystems, VAECO sign agreement for MRO services in Vietnam

Spirit AeroSystems looks to renegotiate unsustainable Airbus and Boeing contract

Spirit AeroSystems not guilty of misleading investors

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