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SPR Jan 2025 40.000 put

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  • Reuters

    Exclusive-Spirit AeroSystems limits overtime and hiring as Boeing 737 output drops

    (Reuters) -Boeing's key supplier Spirit AeroSystems is limiting overtime and hiring as production declines due to lower output of 737 MAX jets, Spirit told Reuters on Friday. Boeing's MAX jetliner production has fallen sharply in recent weeks as U.S. regulators step up factory checks and workers slow the assembly line outside Seattle to complete outstanding work. Boeing's deliveries dropped by half in March from a year ago as it deals with a sprawling crisis triggered by the Jan. 5 Alaska Airlines midair panel blowout.

  • Yahoo Finance Video

    Boeing's company culture challenges go beyond safety: Analyst

    A Senate subcommittee is set to hold a hearing next week to examine Boeing's (BA) safety culture. This comes after airlines reported numerous safety incidents in relation to the company's Boeing 737 MAX jet line. Melius Research Managing Director of Aerospace, Defense & Space Robert Spingarn joins Market Domination to provide insight on the upcoming hearing, Spingarn hones in on cultural issues within the company, noting the "distance" between the factory floor and executives. The divide was intensified by Boeing's decision to move its headquarters from Seattle to Chicago in the early 2000s, Spingarn says, calling the move a "disservice." In light of Boeing's leadership shake-up, Spingarn believes "the changes are gonna be more significant than they were in the past," which may help the company see a turnaround. With the current CEO, Dave Calhoun, set to resign at the close of 2024, Spingarn is uncertain whether Calhoun will remain in the role if a successor is chosen sooner. He emphasizes the need for the next CEO to have an engineering background and production floor experience — recommending names like Pat Shanahan and Gwen Shotwell. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith

  • Reuters

    Exclusive-Airbus CEO says 'not unlikely' it will take some Spirit Aero plants

    The head of Airbus told Reuters it is "not unlikely" that the European planemaker takes control of two U.S. and UK plants run by Spirit Aerosystems if Boeing goes ahead with plans to buy one of the industry's key suppliers. But Chief Executive Guillaume Faury said it was up to Boeing to fine-tune its intentions - having changed the status quo with a surprise plan to buy back its former unit - and Airbus would have a "word to say" about where the two factories ended up. The fate of the plants and their combined 4,000 workers - in Kinston in North Carolina and Belfast, Northern Ireland - has been swept up in the latest crisis at Boeing, which aims to buy its supplier to ease the fallout from a 737 MAX panel blowout.