Boeing 737 MAX production suspended by Spirit AeroSystems

WICHITA, Kan. Spirit AeroSystems announced that Boeing directed the company to stop all 737 MAX deliveries to Boeing effective Jan. 1, 2020, due to Boeing's temporary suspension of 737 MAX production. Spirit will suspend 737 MAX production beginning on Jan. 1.

Spirit will continue to communicate with Boeing regarding the timetable for resuming production.

Because revenue from 737 aircraft components represents more than 50 percent of Spirit's annual revenue, according to the company, this suspension will have an adverse impact on Spirit's business, financial condition, results of operations, and cash flows.

Spirit is evaluating all potential actions to align its cost base with lower production levels expected in 2020.