Spirit AeroSystems' Cash Advances Aren't Surprising -- Market Talk

Dow Jones11-14

1121 ET - Boeing's plan to pay Spirit AeroSystems up to $350 million in advance isn't surprising after the latter company issued a going-concern warning last week, Wolfe Research analyst Myles Walton says in a research note. The advance works more like a loan for Boeing's accounting purposes, and is only intended to support Spirit's manufacturing of Boeing products as the fuselage supplier works through liquidity issues, the analyst says. Spirit has also arranged a $107 million advance from Airbus to keep making products for it. The combined payments should keep Spirit's cash balance above the $200 million level that "we suspect is needed to run the business," the analyst says. (dean.seal@wsj.com)

(END) Dow Jones Newswires

November 13, 2024 11:21 ET (16:21 GMT)

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