Spirit, Boeing enter into memorandum of agreement to improve aero supplier's issues [Reuters]
Spirit Aerosystems Holdings, Inc. (SPR)
Last spirit aerosystems holdings, inc. earnings: 2/28 07:30 am
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Source: Reuters
April 23 (Reuters) - Spirit AeroSystems (SPR.N) New Tab , opens new tab and Boeing (BA.N) New Tab , opens new tab entered into a memorandum of agreement to address issues that include the aero parts supplier's higher levels of inventory, contract assets and lower operational cash flows. Under the MoA, Spirit will maintain a production rate that supports Boeing's contractual production demand. The plane maker will also pay Spirit an advance payment of $425 million. Spirit will also provide to Boeing specified financial information on a weekly basis. The MoA would also help navigate lower expected deliveries to Boeing and higher factory costs to maintain rate readiness. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar and Shailesh Kuber Our Standards: The Thomson Reuters Trust Principles. New Tab , opens new tab
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SPR
News
- What's a whistleblower? Key questions about employee protections after Boeing supplier dies [USA TODAY]USA TODAY
- Whistleblower Who Raised Safety Concerns at Boeing Contractor Spirit Dies [BNN Bloomberg (Canada)]BNN Bloomberg
- Airbus called for compensation to take on money-losing Spirit operations, sources say [Reuters]Reuters
- Boeing whistleblower dies following a brief illness, weeks after the suicide of another [MSNBC.com]MSNBC.com
- Spirit AeroSystems sues Texas attorney general [Yahoo! Finance]Yahoo! Finance
SPR
Earnings
- 2/6/24 - Miss
SPR
Sec Filings
- 4/30/24 - Form 4
- 4/29/24 - Form 8-K
- 4/23/24 - Form 8-K
- SPR's page on the SEC website