Welcome to our dedicated page for Spirit Aerosys news (Ticker: SPR), a resource for investors and traders seeking the latest updates and insights on Spirit Aerosys stock.
Spirit AeroSystems (NYSE: SPR) serves as a critical partner in global aerospace manufacturing, specializing in advanced aerostructures for commercial and defense markets. This dedicated news hub provides investors and industry professionals with verified updates, earnings reports, and strategic announcements directly from the company and trusted sources.
Access timely information on fuselage production milestones, wing system innovations, and defense contract developments. Our curated collection includes press releases covering supply chain initiatives, facility expansions, and technological advancements in composite manufacturing. Monitor updates about SPR's partnerships with leading aircraft manufacturers and its role in next-generation aviation programs.
Key content categories include quarterly financial results, production rate changes, leadership updates, and regulatory filings. Bookmark this page for consolidated access to operational updates from SPR's global facilities in Wichita, Prestwick, and Malaysia, along with analysis of market trends impacting aerospace suppliers.
For stakeholders tracking aviation manufacturing dynamics, this resource eliminates the need to scour multiple platforms. Check back regularly for unfiltered access to SPR's official communications and related industry context.
Spirit AeroSystems (NYSE: SPR) has announced a definitive agreement to transfer several key Airbus aerostructure production assets to Airbus SE. The divestiture will coincide with Spirit's previously announced acquisition by Boeing, both expected to close in Q3 2025.
The transfer includes facilities in Kinston (NC), St. Nazaire (France), Casablanca (Morocco), Prestwick (Scotland), and various production lines for A220 and A350 components. Assets in Subang, Malaysia will also be transferred if no suitable buyer is found.
As part of the agreement, Airbus will provide Spirit with $200 million in non-interest-bearing lines of credit to support Airbus programs. The transaction requires regulatory approvals and other closing conditions.
Spirit AeroSystems (NYSE: SPR) announced that John L. Plueger, CEO of Air Lease , will depart from its Board of Directors after 10 years of service. Plueger will not seek re-election at the company's annual stockholders meeting on May 23, 2025.
The departure is attributed to Plueger's need to focus on expanded responsibilities at Air Lease following the retirement of executive chairman Steven Udvar-Házy. Spirit's Chairman Robert D. Johnson acknowledged Plueger's contributions, particularly highlighting his role in navigating the company through challenging times and securing the merger agreement with Boeing.
Spirit AeroSystems (NYSE: SPR) reported Q4 2024 financial results with revenues of $1.7 billion and EPS of $(5.38). The company reported cash provided by operations of $137 million and free cash flow of $91 million.
Key operational highlights include increased deliveries across programs: twofold increase for 737, 37% for A220, and 15% for A350 compared to previous quarter. However, the quarter saw significant challenges with net forward losses of $440 million, mainly from Boeing 787, Airbus A220, and A350 programs due to production issues and cost increases.
The company's pending acquisition by Boeing is expected to close in mid-2025. Spirit's cash balance stood at $537 million, supported by advance payments from Boeing ($200 million) and Airbus ($70 million). Management expressed substantial doubt about the company's ability to continue as a going concern, citing needs for additional funding to sustain operations. The backlog at quarter-end was approximately $47 billion.
Spirit AeroSystems (NYSE: SPR) shareholders have approved the proposed acquisition by Boeing during a special meeting held on January 31, 2025. The transaction, which was initially announced in summer 2024, is expected to close in mid-2025, pending regulatory approvals and other closing conditions.
Spirit's CFO Irene Esteves highlighted the shareholder approval as a significant milestone in the planned merger with Boeing, emphasizing continued focus on safety, compliance, and quality during the transition period. The company will maintain independent operations until the transaction closes.
Spirit AeroSystems is a major manufacturer of aerostructures for commercial airplanes, defense platforms, and business/regional jets, specializing in fuselages, integrated wings, pylons, and nacelles using aluminum and advanced composite manufacturing solutions.
Spirit AeroSystems Holdings (NYSE: SPR) has announced the sale of Fiber Materials Inc (FMI) to Tex Tech Industries for $165 million in cash. FMI, based in Biddeford, Maine, and Woonsocket, Rhode Island, specializes in high-temperature materials and reinforced composites, particularly Carbon/Carbon composites.
FMI's products are important components in thermal protection systems, re-entry vehicle nose tips, and rocket motor components, serving both defense platforms and NASA programs including Stardust, Mars Curiosity, Orion, and Mars 2020. The business employs approximately 400 engineers and production personnel.
For Tex-Tech, this acquisition adds strategic value by expanding their portfolio of thermally protective materials, particularly in the growing space and defense industry. Morgan Stanley & Co. is serving as lead financial advisor to Spirit, while Lincoln International is advising Tex-Tech on the transaction.
Spirit AeroSystems (NYSE: SPR) has entered into a purchase agreement to sell Fiber Materials, Inc. (FMI) to Tex-Tech Industries for $165 million in cash. FMI, based in Biddeford, Maine, and Woonsocket, Rhode Island, specializes in high-temperature materials and reinforced composites for defense platforms and NASA programs. The business employs approximately 400 engineers and production personnel. The acquisition will enhance Tex-Tech's portfolio in the space and defense industry.
Spirit AeroSystems (NYSE: SPR) has secured a second amended agreement with Airbus, featuring a $107 million non-interest-bearing line of credit. The funds will be used as advance payments for Airbus programme production and product delivery. The credit line's repayment obligations will either be assumed by Airbus or its affiliates upon closing of transactions outlined in their June 30, 2024 term sheet, or be repaid by April 1, 2026.
Spirit AeroSystems (NYSE: SPR) has secured an advance payments agreement with Boeing worth up to $350 million to support production of Boeing products. The agreement aims to address Spirit's challenges including high inventory levels, lower operational cash flows, decreased Boeing deliveries, higher factory costs, and impacts from a recent Boeing employee strike. The advance payment will be repaid in four equal installments of 25% each, scheduled for April 30, June 30, September 30, and December 31, 2026.
Spirit AeroSystems (NYSE: SPR) reported third quarter 2024 financial results with revenues of $1.5 billion and EPS of $(4.07). The company experienced cash usage of $276 million in operations and free cash flow usage of $323 million. The quarter was impacted by higher unfavorable changes in estimates, including net forward losses of $217 million, primarily from Boeing 787 and Airbus A220 programs. The company announced furloughs for approximately 700 employees due to the ongoing Boeing IAM strike. Spirit's backlog stands at $48 billion, while the pending Boeing acquisition is expected to close in mid-2025.
Spirit AeroSystems (NYSE: SPR) has announced employee furloughs in response to the ongoing Boeing strike that began on September 13. Effective October 28, the company will implement a 21-day furlough for approximately 700 employees working on the 767 and 777 programs. This decision comes due to storage capacity for these units.
Additional cost-saving measures include a hiring freeze, travel restrictions, and overtime limitations. If the strike continues beyond November, Spirit may need to implement layoffs and additional furloughs due to financial pressures. CEO Pat Shanahan emphasized the difficulty of this decision and the company's commitment to supporting affected employees and their families.
Despite these challenges, Spirit AeroSystems remains committed to maintaining high quality and safety standards, and meeting its obligations to customers, regulators, and the aerospace industry.