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Spirit AeroSystems' Future Faces 'Substantial Doubt'
According to a recent earnings report, Spirit ended Q3 with just $218 million cash on hand. The company previously announced a $425 million advance from Boeing, but that remains unpaid. The company also secured a $350 million bridge loan, and by the end of Q3, the entire amount had been borrowed.
Spirit AeroSystems raises doubt about continuing as a ‘going concern’
Spirit AeroSystems is warning that its business viability remains in doubt, saying its cash reserves are drying up due to Boeing's sharply reduced production rates and to other factors driving steep losses on its Airbus and Boeing programme work.
Spirit AeroSystems Issues Going-Concern Warning
The designer and manufacturer for commercial and defense aircraft said its liquidity has been affected in part by the strike at Boeing and limitations on that company’s ability to increase production.
Spirit Aero raises doubts over ability to continue as going concern
U.S. supplier Spirit AeroSystems said on Tuesday in a quarterly filing that substantial doubt exists about the company's ability to continue as a going concern.
Spirit AeroSystems raises doubts over ‘ability to continue as going concern’
Accordingly, these conditions and events raise substantial doubt about the Company’s ability to continue as a going concern…” Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news.
Boeing supplier Spirit AeroSystems says there’s ‘substantial doubt’ about its ability to keep operating
Aircraft-parts supplier Spirit AeroSystems Holdings Inc. on Tuesday said that there was “substantial doubt” about its ability to keep running as a “going concern,” as losses, debt, and difficulties at jet maker Boeing Co.
Key Boeing supplier Spirit Aero raises doubts over ability to continue as going concern
Spirit AeroSystems, a key supplier to US planemaker Boeing, warned on Tuesday there was “substantial doubt” that the company would be able to continue as a going concern.
Boeing Supplier Spirit AeroSystems Faces Liquidity Challenges, Raises Doubts About Ongoing Viability
Spirit AeroSystems Holdings Inc. (SPR), a major supplier to Boeing, reported significant operating losses in recent years and raised
Spirit AeroSystems reveals concerns about ability to operate
In a new filing with the government, Spirit AeroSystems says there is "substantial doubt about the Company's ability to continue as a going concern."
Spirit AeroSystems warns of ability to continue as going concern amid cash crunch
Spirit AeroSystems, Boeing's key supplier, has raised substantial doubt about its ability to continue as a going concern. Read more.
4h
on MSN
Spirit AeroSystems gains on report it's close to funding agreement with Boeing
Spirit AeroSystems (NYSE:SPR) edged higher by 0.3% after a report that the struggling supplier is close to reaching a funding ...
57m
Boeing close to funding agreement to help Spirit AeroSystems, Reuters reports
Spirit AeroSystems (SPR) and Boeing (BA), which plans to buy its one-time subsidiary, are close to reaching a funding agreement that would give ...
1d
In wake of Spirit SEC filing, aerospace analyst 'would not be surprised' to see another Boeing cash advance
"We would not be surprised to see another such arrangement be announced," a prominent Wall Street aerospace sector analyst ...
KSNW Wichita on MSN
2d
Spirit AeroSystems says layoffs, furloughs may be needed
In a new filing with the government, Spirit AeroSystems says there is “substantial doubt about the Company’s ability to ...
1d
Spirit Aerosystems Faces Financial Turbulence Amid Merger Costs and Airbus Disposition
Spirit Aerosystems (SPR) has disclosed a new risk, in the Corporate Activity and Growth category. Spirit Aerosystems faces significant ...
3d
New Spirit AeroSystems filing raises further concern over company's health
"We retain a range of options and levers to address our financial and spacing constraints and are working with our customers ...
2d
on MSN
U.S. Army defense program to stay in Wichita after Spirit is dropped as a supplier
Bell Textron, a subsidiary of Wichita-based Textron Aviation, will take over a U.S. Army defense program after the program ...
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