Spirit AeroSystems Inks Deal With Boeing To Support Production Stability
(RTTNews) - Spirit AeroSystems, Holdings Inc. (SPR) announced Wednesday that its subsidiary, Spirit AeroSystems Inc., entered into a Memorandum of Agreement (MoA) with The Boeing Co. (BA).
The agreement enables greater collaboration to achieve improved production, enhance quality and higher deliveries in the future and to mitigate current operational challenges.
The agreement strengthens the strategic relationship between Spirit and Boeing for the long-term to fulfill operational commitments and airline expectations.
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Boeing Reportedly Restarts 737 MAX Production
Aerospace major Boeing Co. has restarted production of its best-selling 737 MAX jetliner last week, Reuters reported citing sources familiar with the matter. Amid the significantly growing global demand for air travel, the company has to fulfil about 4,200 orders from airlines for the jet. This comes a month after a seven-week strike by 33,000 factory workers ended...
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15 days ago
Boeing Strike Ends As Machinists Accept New Contract
Nearly two months long strike at Boeing Co. has ended after a majority of around 33,000 frontline workers voted to approve a new contract that will deliver 43.65 percent compounded wage increase. Following the deal, Boeing shares were gaining around 1.91 percent in the pre-market activity on the NYSE to trade.
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50 days ago
NTSB Asks For Urgent Safety Checks On Boeing 737 Rudder System
In a latest blow to the struggling aerospace giant Boeing Co., which has been hit by an ongoing strike by machinists as well as various safety issues, the National Transportation Safety Board has issued urgent safety recommendations to Rudder control system on some 737 airplanes. The warning has been given to Boeing and the Federal Aviation Administration or FAA in response to the potential...
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89 days ago
Boeing Offers 30% Wage Hike In Final Offer, But Union Rejects
Aerospace giant Boeing Co., which has been hit by an ongoing strike by machinists, has come out with its improved "best and final offer" with a larger pay hike and bonuses, urging the employees to ratify by September 27. Meanwhile, Boeing's largest union, The International Association of Machinists and Aerospace Workers or IAM, declined to put the offer to a vote, noting that it was not negotiated
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92 days ago
Boeing Freezes Hiring, Weighs Furloughs To Cut Costs Amid Strike
Aerospace giant Boeing Co. is planning various cost-cutting measures, including hiring freeze, cut in supplier spending and possible temporary furloughs, to meet the ongoing strike by machinists, reports said citing a company memo. Bloomberg reported that Boeing's difficult financial position puts its credit rating at risk of dropping below investment grade.
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99 days ago
Boeing Union Members Begin Strike; Stock Drops
Boeing Co.'s about 33,000 machinists union members have started a strike on Friday after majority of them voted to reject a proposed four-year contract by the aerospace and defence major. The first strike at the firm since 2008 is expected to hit the commercial airplane production of the aircraft manufacturer, which is already struggling with its various plane safety issues.
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103 days ago
Boeing Grounds 777X Test Fleet Over Damage In Structure
Boeing Co. has paused flight tests for its new 777X jetliner and grounded the four-aircraft test fleet after finding damage in the engine-related structural component of one of the wide-body jetliners, reports said. The decision was made after the aerospace and defence major, during routine maintenance following a test flight, identified a severed thrust link on a 777-9.
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127 days ago
Boeing Q2 Loss Sharply Widens, Misses Estimates
Boeing reported on Wednesday a net loss for the second quarter that sharply widened from last year, reflecting a 15 percent revenue decline amid lower commercial delivery volumes, and losses on fixed-price defense development programs. Core loss per share came in well below analysts' expectations and quarterly revenues also missed it.
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147 days ago
