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May 06, 2015 5:44 PM ET

Aerospace and Defense

Company Overview of Spirit AeroSystems, Inc.

Company Overview

Spirit AeroSystems, Inc. designs and manufactures non-OEM aerostructures for commercial, military, and business/regional jets. It offers composite and metallic aircraft fuselages, propulsion systems, pylons, nacelles, and wing structures and components. The company also provides floor beams, seat tracks, tail cones, outboard flaps, strakelets, krueger flaps, edge slats, and fan duct thrust reversers, as well as gallery, entry, access, and lower cargo doors. In addition, it offers aftermarket customer support services, including spare parts, maintenance/repair/overhaul, fleet support, assemblies, and other services in North America, Europe, and Asia. The company offers its products through a ...

3801 South Oliver Street

PO Box 780008

Wichita, KS 67278-0008

United States

Founded in 2004

Phone:

316-526-9000

Fax:

316-523-8814

Key Executives for Spirit AeroSystems, Inc.

Chief Executive Officer and President
Age: 54
Chief Financial Officer and Senior Vice President
Age: 54
Chief Operations Officer and Executive Vice President
Age: 58
Chief Adminstrative Officer and Senior Vice President
Age: 43
Senior Vice President, General Counsel and Secretary
Age: 49
Compensation as of Fiscal Year 2014.

Spirit AeroSystems, Inc. Key Developments

Spirit AeroSystems, Inc. Enters into Amendment No. 5 to its Senior Secured Credit Agreement

On March 18, 2015, Spirit AeroSystems Holdings, Inc. entered into amendment no. 5 to its senior secured credit agreement, dated as of April 18, 2012, among Spirit AeroSystems, Inc., as borrower, the company, as parent guarantor, the subsidiary guarantors party thereto, the lenders party thereto, Bank of America, N.A., as administrative agent and collateral agent, and the other agents named therein. The amendment provides for a new $535 million senior secured term loan A (the new term loan) with a maturity date of March 18, 2020, which replaces the term loan B with an amount outstanding of approximately $534.9 million (the term loan B) that was scheduled to mature on September 15, 2020. The new term loan bears interest, at Spirit's option, at either LIBOR plus 1.75% or a defined base rate plus 0.75%, subject to adjustment to amounts between and including LIBOR plus 1.75% and LIBOR plus 2.50% (or amounts between and including base rate plus 0.75% and base rate plus 1.50%, as applicable) based on changes to Spirit's debt-to-EBITDA ratio. The principal obligations under the new term loan are to be repaid in equal quarterly installments of $6,687,500, with the balance due at maturity of the new term loan. The credit agreement maintains substantially the same prepayment requirements and covenant structure, and provides the company with some additional flexibility with respect to certain activities. Spirit used the proceeds of the new term loan to pay off the term loan B and to pay a portion of the fees and expenses payable in connection with the amendment.

Spirit AeroSystems, Inc. Presents at Barclays Industrial Select Conference, Feb-19-2015 09:45 AM

Spirit AeroSystems, Inc. Presents at Barclays Industrial Select Conference, Feb-19-2015 09:45 AM. Venue: Loews Miami Beach Hotel, 1601 Collins Avenue, Miami Beach, Florida, United States. Speakers: Sanjay Kapoor, Chief Financial Officer and Senior Vice President.

Judge Dismisses Age Discrimination Suit Against Boeing Co. and Spirit AeroSystems

A federal judge dismissed the remaining age-discrimination claims against Boeing Co. and Spirit AeroSystems that were part of a lawsuit that has stretched out over nine years. U.S. District Judge Eric Melgren dismissed the claims of the remaining 26 plaintiffs in the case, as a sanction for their refusal to obey a court order directing them to provide their tax returns to the companies. Ninety former Boeing employees had claimed in the suit that they lost their jobs due to their ages when Boeing sold its Wichita-based commercial aircraft operations to the parent company of Spirit AeroSystems in 2005.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 9, 2014
Spirit AeroSystems, Inc., G280 and G650 Programs
 

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