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Issue #592

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2014 Media Kit

Spirit Aero posts profit as aircraft makers boost production

By: | at 07:41 AM | Air Cargo  

Aircraft components maker Spirit AeroSystems Holdings Inc posted a quarterly profit compared with a loss a year earlier as customers Boeing Co and Airbus boosted production to meet surging demand for large planes.

Spirit reported net income of $143.4 million, or $1.01 cents, for the second-quarter ended July 3, compared with a loss of $209.4 million, or $1.47 per share.

The year-earlier quarter included a charge of $448 million in cost overruns on several aircraft wing programs.

Revenue for the latest reported quarter rose 18.6 percent to $1.80 billion.