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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
05/06/201616:52:13Statement of Changes in Beneficial Ownership (4)
04/29/201616:22:34Quarterly Report (10-q)
04/29/201607:54:19Current Report Filing (8-k)
04/29/201607:30:00Spirit AeroSystems Holdings, Inc. Reports First Quarter 2016...
04/29/201607:30:00Spirit AeroSystems Holdings, Inc. Reports First Quarter 2016...
04/25/201616:20:34Current Report Filing (8-k)
04/25/201603:03:00Boeing Boosts Push Into Plane-Parts Arena -- WSJ
04/22/201608:40:00Boeing Ramps Up Push Into the Airplane Parts Business
04/22/201605:59:00Boeing Ramps Up Push Into the Airplane Parts Business
04/15/201617:00:00Spirit AeroSystems to Release First Quarter 2016 Financial Results...
04/15/201617:00:00Spirit AeroSystems to Release First Quarter 2016 Financial Results...
04/08/201616:32:40Statement of Changes in Beneficial Ownership (4)
04/01/201616:36:00Initial Statement of Beneficial Ownership (3)
03/25/201617:40:00Boeing Nears U.K. Military Deal
03/18/201611:00:49Confidential Treatment Order (ct Order)
03/07/201617:26:47Proxy Statement - Notice of Shareholders Meeting (preliminary...
03/07/201617:10:00Air Force Names Partners for New Bomber
03/03/201610:01:19Statement of Changes in Beneficial Ownership (4)
02/17/201616:46:23Current Report Filing (8-k)
02/16/201611:46:05Amended Statement of Ownership (sc 13g/a)

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