(Reuters) -Pirit Aerosystems reported on Friday at an operational loss since the fourth quarter in the amount of $ 577 million, which had sworn a $ 215 million of operating revenue a year earlier, helping to finance the Boeing Customer Customer.
The main supplier of the American Planecker reported about $ 2.1 billion net losses for 2024, “will have to receive additional funds for surgery, because we expect it to continue to create operational losses in the foreseeable future,” the company announces in its announcement on Friday.
His two key customers and European rival Airbus-Ves have agreed to provide a cash infusion in the fourth quarter: $ 350 million in advance payment from Boeing and up to $ 107 million non-interest carrying a loan from Airbus. In November, Spirit warned that there was a “significant doubt” that he would be able to continue as concern.
Boeing is in the process of acquiring a former Branch based in Wichita in an agreement that is expected to be completed by mid -year, said the President and CEO Pat Shanahan in the statement.
Spirit Aero reported a free cash flow, a metric that investors watched carefully, in the amount of $ 91 million during the quarter compared to $ 42 million a year earlier. The income decreased by 9% to $ 1.65 billion during the quarter.
Spirit, which produces aerous parts for both Boeing and Airbus, said his deliveries during the quarter were in models for both plans.
“Delivery was twice at 737, 37% on A220 and 15% on the A350 compared to the previous quarter,” said Irene Esteves’ financial director in the statement.
“We believe that this progress shows that, with the right user support, we are able to fulfill current requirements, and at the same time investing for the future increase in the production rate.”
The company did not give guidance for 2025, but it expects a “significant reduction” of projected revenue and cash flows for the year due to changes in Boeing production, lower than the planned 737 production rates and without increasing prices on Airbus programs, the announcement states.
Losses in the fourth quarter include net losses forward of $ 440 million – $ 167 million on their Boeing $ 787, $ 73 million for Airbus A220 and $ 64 million on their Airbus A350 program – due to problems with production performance and higher labor chain costs.
(Reporting Allison Lampert in Montreal and Dan Catchpole in Seattlu; Bill Berkrot Mounting and David Gregorio)
