Spirit AeroSystems to Issue New Guidance After 737 MAX Production Schedule Changes
01 Mai 2019 - 3:09PM
Dow Jones News
By Michael Dabaie
Spirit AeroSystems Holdings Inc. (SPR) said it will issue new
2019 guidance to account for production schedule changes involving
Boeing's (BA) 737 MAX.
The maker of aero structures for commercial and defense aircraft
in April said it would maintain its current delivery rate on the
737 program of 52 shipsets a month following Boeing's announcement
that it will reduce its own production rate to 42 aircraft a
month.
The company had planned to increase production to 57 aircraft
per month beginning about June.
Spirit said it will issue updated guidance for 2019 when it
receives more definitive information on the timing of the 737 MAX
return to service and Boeing's new production schedule.
Given the reduction in production units and corresponding
revenue, the company said it has begun taking actions to reduce
expenses, defer capital investments, and redouble efforts on
working capital improvements. Spirit said it will pause share
repurchases pending further clarity on the 737 MAX.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 01, 2019 08:54 ET (12:54 GMT)
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