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.
Spirit said it burned through $211 million of cash in the second quarter, adding that cash flow will not recover until the 2024-2025 time period.
Analysts questioned whether Spirit would have to renegotiate labor contracts with Boeing and Airbus.
Seifman said it is unclear what Boeing will do to help Spirit improve its financial health.
"We instead believe Boeing and Airbus are likely to continue to contribute customer advances, allowing Spirit to benefit only as production rates improve," he said.
Persons:
Benoit Tessier, Michael Ciarmoli, Morgan, Seth Seifman, Seifman, Ken Herbert, refinance, Cowen, Cai Von Rumohr, Refinitiv, Valerie Insinna, Marguerita Choy
Organizations:
Boeing, International Paris Air, Le, REUTERS, Airbus, Management, Truist Securities, RBC Capital Markets, Thomson
Locations:
Le Bourget, Paris, France