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Spirit, Boeing Reach Agreement On 787 Program Claims

DOW JONES NEWSWIRES Spirit AeroSystems Holdings Inc. (SPR), a supplier of parts for Boeing Co.'s (BA) long-delayed 787 aircraft, said it reached an agreement with the aerospace giant over claims involving development and production of the aircraft. Spirit, like other contractors, has been seeking compensation for program delays. The development of the 787, a state-of-the-art wide body jet, has fallen years behind schedule amid numerous setbacks. Nevertheless, in November Spirit said the level and complexity of design changes to the aircraft was "abating." Spirit Chief Financial Officer Phil Anderson said Wednesday the companies "developed a fair and equitable framework that reflects the current program financial realities." Spirit plans to include any impact of the agreement in its fourth-quarter earnings release, scheduled for Feb. 10. No other details were announced, and a Boeing spokesman couldn't immediately be reached for comment. The supplier's Class A shares closed Tuesday at $20.44 while Boeing finished at $68.96. Neither was active premarket. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Spirit Aerosystems Holdings (SPR)
DateTimeHeadline
02/08/201617:19:00Spirit Chief Executive Officer Speaking at Barclays Industrial...
02/08/201617:19:00Spirit Chief Executive Officer Speaking at Barclays Industrial...
02/04/201617:01:56Current Report Filing (8-k)
02/03/201614:18:00Spirit AeroSystems Set to Adjust to Jet Makers' Output Changes
02/03/201607:58:15Current Report Filing (8-k)
02/03/201607:30:00Spirit AeroSystems Holdings, Inc. Reports Fourth Quarter and...
02/03/201607:30:00Spirit AeroSystems Holdings, Inc. Reports Fourth Quarter and...
01/29/201617:11:00Spirit AeroSystems and Boeing Celebrate 737 MAX First Flight
01/29/201617:11:00Spirit AeroSystems and Boeing Celebrate 737 MAX First Flight
01/20/201618:17:00Spirit AeroSystems to Release Fourth Quarter and Full-Year 2015...
01/20/201618:17:00Spirit AeroSystems to Release Fourth Quarter and Full-Year 2015...
01/13/201612:45:00The American Diabetes Association Recognizes Team Spirit as Highest...
01/13/201612:45:00The American Diabetes Association Recognizes Team Spirit as Highest...
01/11/201618:04:38Initial Statement of Beneficial Ownership (3)
12/14/201516:01:43Statement of Changes in Beneficial Ownership (4)
12/08/201508:30:00Stacy Cozad to Join Spirit AeroSystems as General Counsel
12/08/201508:30:00Stacy Cozad to Join Spirit AeroSystems as General Counsel
12/03/201516:02:29Statement of Changes in Beneficial Ownership (4)
12/02/201513:59:00Spirit AeroSystems Charity Golf Classic Awards $105,000 in Grants...
12/02/201513:59:00Spirit AeroSystems Charity Golf Classic Awards $105,000 in Grants...

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