Spirit AeroSystems made less than a third as much revenue as a year earlier and reported a bigger-than-expected quarterly loss on Tuesday, as its top customers Boeing and Airbus slashed production due to a collapse in global travel.
) made less than a third as much revenue as a year earlier and reported a bigger-than-expected quarterly loss on Tuesday, as its top customers Boeing and Airbus slashed production due to a collapse in global travel.
Coronavirus-led lockdowns have brought airports to a virtual halt and left the world’s big carriers reeling, spurring the cancellations of hundreds of orders for new Boeing and Airbus jets. Last week, Airbus SE also cut production of its wide-body A350 plane to five jets a month, after dropping it to six from 9.5 in April.
“Spirit production levels in the quarter fell 65% from last year and 51% from the first quarter,” Chief Executive Officer Tom Gentile said in a statement.
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