13 August 2013

Spirit Aerosystems CFO Anderson: "We are running a little hot on development" on Airbus A350.

Spirit AeroSystems has reported 2nd Quarter Results Including ($448) Million in Charges. The Key Announcements from Ongoing Strategic and Financial Review were that they are initiating the process to divest Oklahoma sites and other general messages as “Aligning to support our customers and programs”, “Adding talent to our leadership team” and “Reducing costs”.

Focused on the A350 XWB program, there is an important data regarding deliveries on 2013: only 1 A350 shipset delivery in Q2/2013 (April-May-June). In 2012 there were delivered 3 aircraft and in 2013 there are another 3. These figures imply a delay on the schedule that could impact the EIS planned for 2nd half/2014 with the delivery of the MSN6 to Qatar.

Additionally, Airbus is helping Spirit with an advance payment of $50 million on 2012 “associated with a customer agreement on the A350 XWB fuselage program.” Airbus support includes a specific team on-site reporting directly to the Head of Program Didier Evrard.

Meanwhile, it seems that Spirit is on track for 10 per month build rate on 787 for Boeing.

Based on the article “Spirit AeroSystems Q2 profits hit by charges” published in The Wichita Business Journal

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