By Dave Sebastian

Spirit AeroSystems Inc. (SPR) said it will stop all deliveries of the 737 MAX jetliner to Boeing Co. (BA) due to Boeing's temporary suspension of the aircraft's production, effective Jan. 1., a move Spirit said could significantly weigh on its business.

The Wichita, Kan., aerostructures manufacturer, which supplies the jetliner's fuselage, said Friday that revenue from the MAX aircraft represents more than half of its annual revenue. The company said it will provide more information about the suspension in its fourth-quarter earnings release.

Boeing this week said it would suspend MAX production in January, having assembled around 40 planes a month at its plant near Seattle since the MAX was grounded in March following two fatal crashes of the aircraft within five months. The two accidents in Indonesia and Ethiopia claimed a combined 346 lives.

Spirit said it is evaluating ways to align costs with its lower production levels expected in 2020. The company said it will continue to communicate with Boeing regarding when the production would resume.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

December 20, 2019 08:08 ET (13:08 GMT)

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