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Stock impact report

Spirit AeroSystems gets $425M advance from Boeing [Yahoo! Finance]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
A report filed with the U.S. Securities and Exchange Commission shows Boeing and Spirit entered into a Memorandum of Agreement on April 18. It uses the term “advances” to refer to Boeing's three installments. The report says the first installment of $275 million has already been paid. Another $50 million will be paid by April 29, and the final $100 million will be paid by May 6. Boeing posts a $355 million loss as the plane maker tries to dig out from under its latest crisis Spirit must use the advances for the sole purpose of being able to produce products at the rate required by Boeing. It must also provide Boeing with specified financial information every week. Spirit will repay Boeing in six installments: $36.6 million on June 12 $89.5 million on July 17 $150.6 million on Aug. 14 $134.3 million on Sept. 18 $14 million on Oct. 16 According to the Securities and Exchange Commission report, Spirit is dealing with lower cash flows, higher factory costs, and the Fe Show less Read more
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