© Reuters. A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. REUTERS/Benoit Tessier/file photo
WASHINGTON (Reuters) – Spirit AeroSystems (NYSE:), a major supplier of parts for jetliners, is in talks with Boeing (NYSE:) and Airbus to relieve cost pressures from inflation and supply shortages that are “not sustainable,” Spirit CEO Tom Gentile said on Thursday.
In the first half of the year, Spirit took about $215 million in charges on the Boeing 787 Dreamliner and Airbus A220 and A350 programs, due to wage inflation, parts shortages and greater regulatory scrutiny, he said at an investor conference.
“All of those programs are under pressure,” he noted. “And it really is not sustainable for Spirit. So we are having discussions with our customers, with Boeing and Airbus, about these pressures that we’re facing and how we address them.”
Spirit shares fell 5.8% in afternoon trading.
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