Tag: $Spirit AeroSystems

Boeing’s long-awaited announcement that it will buy back its struggling supplier, Spirit AeroSystems, now shifts the focus of investors to the planemaker’s search for a new CEO.

Boeing (BA.N), opens new tab agreed to buy back Spirit AeroSystems (SPR.N), opens new tab for $4.7 billion in stock and Airbus moved to take on the supplier’s loss-making Europe-focused activities in return for hundreds of millions of dollars of compensation following months of talks.

Shares of Boeing ’s fuselage supplier, Spirit AeroSystems, were rising early Friday as a long process appears to be nearing an end.

Oct 18 (Reuters) – Aerospace supplier Spirit AeroSystems said on Wednesday it had entered into a preliminary agreement with its largest customer Boeing  to achieve production stability at its factories and support higher deliveries.

Spirit AeroSystems on Thursday will suspend factory production at its plant in Wichita, Kansas, the company said, after workers rejected a proposed four-year deal and announced a strike to begin on June 24.