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Airbus is poised to finalise an agreement as early as Wednesday with struggling aerospace supplier Spirit Aerosystems on fresh funding and revised payment terms, a person familiar with the matter said.
WICHITA, Kan. , Nov. 12, 2024 /PRNewswire/ -- Spirit AeroSystems (NYSE: SPR) today announces an Advance Payments Agreement with Boeing, in which Boeing has committed to pay Spirit, as advance payments, up to a total of $350,000,000.00 to produce Boeing products at the rates required by Boeing.
Spirit AeroSystems and Boeing are close to reaching a funding agreement that would give a cash lifeline to the struggling Boeing supplier, an industry source familiar with the matter said.
Spirit AeroSystems might need more help from Boeing.
Aircraft-parts supplier Spirit AeroSystems Holdings Inc. on Tuesday said that there was “substantial doubt” about its ability to keep running as a “going concern,” as losses, debt, and difficulties at jet maker Boeing Co. pile up.
U.S. supplier Spirit AeroSystems said on Tuesday in a quarterly filing that substantial doubt exists about the company's ability to continue as a going concern.
Oil rebounds on possible U.S. SPR buy, yet weak demand and high inventories keep bearish outlook. Key price levels and election risks loom for crude traders.
Spirit AeroSystems is weighing furloughs or layoffs of hundreds more employees if the Boeing machinists' strike stretches beyond Nov. 25, a company spokesman told CNBC Thursday. More than 32,000 Boeing machinists walked off the job on Sept.
Boeing workers rejected a deal to end the strike for the second time, late Wednesday.
While the top- and bottom-line numbers for Spirit Aerosystems (SPR) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.