By Allison Lampert and Manas Mishra
(Reuters) – Spirit AeroSystems, a key subsidiary of U.S. aerospace giant Boeing, warned on Tuesday that there is “significant doubt” that the company will be able to continue with ongoing concerns.
Last month, Spirit Aero said it was under fire from budget cuts, as workers at Boeing's U.S. factory went on strike at a Wichita, Kansas-based supplier of the best-selling 737 MAX jetliner.
Spirit's cash balance at the end of the third quarter of 2024 was $218 million, according to the October filing.
The latest disclosures on Tuesday come as Boeing seeks to restart production of the 737 MAX after a weeks-long strike ended late Monday. A strike by more than 33,000 workers on the US West Coast halted production of many types of Boeing aircraft including the 737.
“We maintain a number of options and measures to address our financial issues and gaps and we are working with our customers on these issues,” said Joe Buccino, a spokesman for Spirit Aero, a key Boeing supplier and Airbus competitor.
Boeing declined to comment.
The company raised more than $24 billion last month.
Spirit Aero said in October it had paid off all of the $350 million in bridge loans it established when Boeing agreed to acquire a supplier in June, confirming an earlier Reuters report. Spirit Aero previously disclosed that it used a $425 million customer advance from Boeing.
(Reporting by Allison Lampert in Montreal, Manas Mishra and Aatreyee Dasgupta in Bengaluru; Editing by Maju Samuel and Rod Nickel)
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