Boeing is giving its troubled supplier Spirit AeroSystems an awkward $350 million bailout
Fuselage manufacturer Spirit AeroSystems (SPR) sounded the alarm last week that it might not be able to stay in business much longer. On Tuesday, it announced that former and future owner Boeing (BA) would be coming through with a $350 million bailout.
Spirit AeroSystems Announces Advance Payments Deal With Boeing
(RTTNews) - Spirit AeroSystems Holdings, Inc. (SPR), Tuesday announced an Advance Payments Agreement by which Boeing Co. (BA) will pay an advance of up to a total of $350 million to produce Boeing products at the rates required by Boeing.
Boeing to Pay Spirit AeroSystems Up to $350 Million in Advance
Boeing has agreed to pay Spirit AeroSystems up to $350 million in advance to keep producing products for it as the fuselage supplier works through a liquidity crunch. The jet maker said Tuesday that the advance payments are intended to help Spirit address high levels of inventory and lower operational cash flows.
Spirit Aero to receive up to $350 million in funding from Boeing
By David Shepardson and Allison Lampert (Reuters) -Spirit AeroSystems said Tuesday that planemaker Boeing will pay up to $350 million in advance payments to the firm, providing the struggling supplier a lifeline as it continues to burn cash after four consecutive years of losses.
Airbus nears funding, payment terms with Spirit AeroSystems- Reuters
Airbus (OTCPK:EADSY) is nearing an agreement to provide funding and revised payment terms to Spirit AeroSystems (NYSE:SPR) as the aircraft parts maker struggles with its finances. Spirit shares fell 1.
Biden admin touts job well done replenishing oil reserves despite depleting them by half over last 4 years
The Energy Department announced the end of replenishing the nation's strategic oil reserves, which were depleted by nearly ...
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Why Did Spirit AeroSystems Holdings Inc (SPR) Stock Plunge -2.22% Last Week?
The Benchmark Company has recently reduced Spirit AeroSystems Holdings Inc (SPR) stock to Hold rating, as announced on June 20, 2024, according to Finviz. Earlier, on February 8, 2024, TD Cowen had ...
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Biden failed to top up oil reserves in the leadup to the election, but refilling will take years
Some analysts had feared that President Biden would tap the stockpile again to address any increases in gasoline prices in ...
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What a US Strategic Bitcoin Reserve could look like under Trump’s presidency
The US proposes a strategic bitcoin reserve, aiming to acquire 1 million Bitcoins, diversifying Federal Reserve assets ...
Daily on Energy: Quote of the week, a final SPR purchase, and private jet emissions
Good afternoon and Happy Friday readers – the weekend is finally here! If you are lucky enough to get Monday off for Veterans ...
U.S. secures 200 million barrels of oil for strategic reserve
The U.S. Department of Energy said Friday that 200 million barrels of oil have been bought and delivered for the strategic ...
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Oil Rises On Surprise Crude Draw
On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose ...
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How Does Spirit AeroSystems Holdings Inc (SPR) Stack Up Against Its Industry Peers?
On Friday, Spirit AeroSystems Holdings Inc (SPR) stock saw a modest uptick, ending the day at $31.15 which represents a slight increase of $0.29 or 0.94% from the prior close of $30.86. The stock ...
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Trend Tracker for (SPR)
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The Business Journals2d
Two of SA's largest locally owned accounting firms merge
ATKG Advisors announced it merged with SPR to form one of the largest locally owned accounting and advisory firms in San ...