The manufacturer of the fuselage for Boeing’s 737 Max said it is burning through cash, as tighter quality controls at its main customer led Spirit AeroSystems to delay deliveries.
Spirit said it and Boeing were inspecting Max fuselages at Spirit’s factory after a door panel blew out of a 737 Max flown by Alaska Airlines in January.
That change has caused fuselages to accumulate in the factory in Wichita, Kansas, and resulted in Spirit using $416mn in cash for operations during the first three months of 2024, compared with $46mn in the year-ago quarter. The company’s net loss widened to $617mn in its first quarter.
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