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Spirit AeroSystems to suspend Boeing 737 MAX production in January 2020

Spirit AeroSystems announced that Boeing directed the company yesterday to stop all 737 MAX deliveries to Boeing effective Jan. 1, 2020, due to Boeing's announced temporary suspension of 737 MAX production. Accordingly, Spirit will suspend 737 MAX production beginning on Jan. 1. Spirit will continue to communicate with Boeing regarding the timetable for resuming production.

Because revenue from 737 aircraft components represents more than 50 percent of Spirit's annual revenue, this suspension will have an adverse impact on Spirit's business, financial condition, results of operations, and cash flows. Additional financial information related to the suspension will be provided in Spirit's fourth quarter/full year 2019 earnings release.

Spirit is evaluating all potential actions to align its cost base with lower production levels expected in 2020. Decisions will be guided by a focus on what is best for the long-term interests of Spirit's stockholders and other stakeholders, including employees.

Press release issued by Spirit AeroSystems, Inc. on December 20, 2019

 

 Contact details from our directory:
Spirit AeroSystems, Inc. Wing Flaps, Empennages, Nacelles, Wings, Aircraft Control Surfaces, Aircraft Structural Components, Thrust Reversers, Engine Pylons, Fuselage Sections, Engine Inlets, Wing Spoilers, Fairings, Machining Services, Metal & Alloy Fabrications

 

 Related aircraft programs:
Boeing 737

 

 Related directory sectors:
Structural Components
Engine Components
Airframe Assemblies

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