Spirit AeroSystems Shares Fall 5% on New Boeing Deal, CFO Resignation
January 30 2020 - 1:42PM
Dow Jones News
By Chris Wack
Spirit AeroSystems Holdings Inc. (SPR) shares dropped 5% after
the company said it has reached an agreement with Boeing Co. (BA)
relating to the 737 MAX production rate.
Spirit said, under the agreement, it will restart production
slowly, ramping up deliveries throughout the year to reach 216 MAX
shipsets delivered to Boeing in 2020.
Spirit said it doesn't expect to achieve a production rate of 52
shipsets a month until late 2022. The parties are continuing to
negotiate other terms.
Spirit also named Mark Suchinski its new finance chief after
Jose Garcia resigned following an ongoing review found Mr. Garcia
didn't comply with certain accounting processes.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 30, 2020 13:27 ET (18:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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