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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
12/05/201616:33:40Current Report Filing (8-k)
12/05/201616:32:45Statement of Changes in Beneficial Ownership (4)
11/30/201617:22:00Spirit AeroSystems delivers first 737 MAX thrust reverser with...
11/30/201617:22:00Spirit AeroSystems delivers first 737 MAX thrust reverser with...
11/30/201616:32:19Amended Statement of Changes in Beneficial Ownership (4/a)
11/30/201616:32:19Amended Statement of Changes in Beneficial Ownership (4/a)
11/14/201616:46:00Spirit AeroSystems launches water recycling project to improve...
11/14/201616:46:00Spirit AeroSystems launches water recycling project to improve...
11/03/201617:31:08Quarterly Report (10-q)
11/01/201608:01:01Current Report Filing (8-k)
11/01/201607:30:00Spirit AeroSystems Holdings, Inc., Reports Third Quarter 2016...
11/01/201607:30:00Spirit AeroSystems Holdings, Inc., Reports Third Quarter 2016...
10/18/201616:01:00Spirit AeroSystems to Release Third Quarter 2016 Financial Results...
10/18/201616:01:00Spirit AeroSystems to Release Third Quarter 2016 Financial Results...
10/13/201611:47:00Spirit AeroSystems Selects GE to Accelerate its Digital Transformation
10/11/201613:09:00Spirit AeroSystems Delivers Key Components for 500th Boeing 787...
10/11/201613:09:00Spirit AeroSystems Delivers Key Components for 500th Boeing 787...
10/11/201609:39:00Spirit AeroSystems and its Employees Contribute $30,000 to North...
10/11/201609:39:00Spirit AeroSystems and its Employees Contribute $30,000 to North...
09/27/201616:33:11Statement of Changes in Beneficial Ownership (4)

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