Boeing Supplier Spirit Surges on Tentative Deal in Parts Dispute
- Memorandum of understanding addresses 787, 737 Max pricing
- Aerostructures company takes $353 million forward loss on 787
Spirit AeroSystems Surges on Tentative Supply Deal With Boeing
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Spirit AeroSystems Holdings Inc. jumped the most in eight years after reaching an agreement with Boeing Co., its largest customer, that could end a sprawling contract dispute affecting every commercial jet in the planemaker’s product lineup.
The two companies signed a memorandum of understanding addressing “open commercial issues” on a range of Boeing programs, including the 737 Max and 787 Dreamliner, Spirit said in a statement Wednesday as it announced earnings. The manufacturers are still working to finalize the five-year pact.