DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Spirit’s"


5 mentions found


☆ Boeing supplier Spirit Aero flags $31 million hit from 737 fuselage defect
  + stars: | 2023-05-03 | by ( Valerie Insinna | Abhijith Ganapavaram | ) www.reuters.com   time to read: +3 min
(Reuters) -Spirit AeroSystems Holdings Inc said on Wednesday it expects a $31 million hit to full-year gross profit from disruptions and rework related to a Boeing 737 MAX fuselage production problem, and that more related costs are anticipated. “Additional costs are expected, including costs Boeing may assert to repair certain models of previously delivered units in their factory and warranty costs related to affected 737 units in service,” Spirit said. Rework costs for affected 737 fuselages at Spirit’s Wichita, Kansas-based production facility are projected to amount to $5 million, an expense of about $100,000-$150,000 per plane. The company has also started to build and deliver production-conforming 737 fuselages under a revised process, it said. Losses on the A220 amounted to about $81 million, including $46 million in non-recurring supply chain costs as well as other costs related to production schedule changes.
☆ Spirit AeroSystems takes $110 million in charges, profit hit on Boeing 737
  + stars: | 2023-05-03 | by ( Valerie Insinna | Abhijith Ganapavaram | ) www.reuters.com   time to read: +3 min
WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. Slideshow ( 2 images )The company announced $110 million in charges on the Airbus A220, Airbus A350 and Boeing 787 during its first-quarter results. Spirit now expects cash burn of about $100 million to $150 million in 2023 due to the risk of lowered 737 fuselage deliveries. The company has also started to build and deliver production-conforming 737 fuselages under a revised process, it said. Cash burn was $69 million in the first quarter, compared with a cash burn of $298 million a year ago.
☆ Elizabeth Warren leads cavalry into deal battles
  + stars: | 2023-03-07 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +3 min
It would be the third curious regulatory intervention in recent weeks, each encouraged by Democratic Senator Elizabeth Warren. In a September letter to Transportation Secretary Pete Buttigieg, Warren argued that the DOT should use its own tools, specifically in the Spirit situation. UnitedHealth (UNH.N) beat back a federal lawsuit against its plan to buy Change Healthcare; Facebook owner Meta Platforms (META.O) shrugged off an FTC attempt to stop its purchase of fitness app developer Within. JetBlue says it built time for a lawsuit into the Spirit merger agreement. As the senator charges up the competition cavalry, dealmakers may have to redraw their battle plans.
☆ Spirit Airlines Pilots Approve New Contract, Lifting Pay 34%
  + stars: | 2023-01-10 | by ( Alison Sider | ) www.wsj.com   time to read: 1 min
Spirit had struggled to attract new pilots as competitors had raised pay. Pilots at Spirit Airlines Inc. approved a two-year contract agreement that will boost their pay by an average of 34% over that period, signaling how growing competition for aviators is fueling higher wages. Nearly 70% of Spirit’s pilots voted in favor of the deal, which the Air Line Pilots Association union said included gains worth $463 million. Captains will receive cumulative pay increases of 25% over the term of the agreement, while first officers’ pay will increase 43%, the union said.
☆ Spirit shareholders approve takeover by JetBlue after a long battle for discount airline
  + stars: | 2022-10-19 | by ( Leslie Josephs | ) www.nbcnews.com   time to read: +1 min
Spirit Airlines shareholders have approved a takeover by JetBlue Airways after a six-month battle to create the country’s fifth-largest carrier, a deal that now faces a high hurdle with federal regulators. Spirit announced the results of the vote after a special shareholder meeting on Wednesday. In April, JetBlue made a $3.8 billion all-cash offer for Spirit, derailing Spirit’s plan for a cash-and-stock deal to merge with Frontier Airlines. The airlines now must convince federal regulators that that agreement won’t harm competition and drive up fares for consumers, a major hurdle in getting the takeover approved. If the takeover is approved, JetBlue plans to do away with the Spirit brand, known for its ultra-low airfares and bare-bones service with fees for add-ons like carry-on bags.
<< prev 1 next >>
Total: 5