Heavy Losses On Boeing 737 And Airbus A220 Programs

Spirit AeroSystems' Losses Soar as 737 Fuselage Deliveries Stall

Heavy Losses on Boeing 737 and Airbus A220 Programs

Spirit AeroSystems, a major aerospace supplier, announced on Monday that its quarterly losses have more than doubled due to a significant decline in 737 fuselage shipments. The company has also been facing losses on its Airbus A220 program, primarily due to higher production costs.

Adjusted Net Loss Widens

Spirit AeroSystems reported an adjusted net loss of $273 million for the quarter, significantly wider than the $146 million loss recorded in the same period last year. The company also posted a net loss of $415 million, more than twice the $206 million loss reported in the second quarter of 2023.

Liquidity Concerns

The company has expressed concerns about its liquidity position. Spirit AeroSystems is actively exploring options to improve its financial stability, including the potential sale of its aerospace forging operations. The supplier's first-quarter adjusted loss per share stood at $0.39, compared to a loss of $0.54 in the previous year.