May 6, 2020 / 4:32 PM / 24 days ago

BRIEF-Spirit AeroSystems To Incur An Incremental Forward Loss Of About $70 Mln-$90 Mln On The 787 Program In Q2 - Conf Call

May 6 (Reuters) - Spirit AeroSystems Holdings Inc:

* SPIRIT AEROSYSTEMS EXEC SAYS CO TO ANNOUNCE ADDITIONAL WORKFORCE ACTIONS IN RESPONSE TO LOWER PRODUCTION LEVELS IN THE COMING WEEKS - CONF CALL

* SPIRIT AEROSYSTEMS EXEC SAYS CO HAS ADJUSTED 787 PRODUCTION RATES FROM 14 AIRCRAFT PER MONTH TO 10, IN LINE WITH BOEING’S LATEST SCHEDULE

* SPIRIT AEROSYSTEMS EXEC SAYS CO EXPECTS TO INCUR AN INCREMENTAL FORWARD LOSS OF ABOUT $70 MILLION TO $90 MILLION ON THE 787 PROGRAM IN Q2

* SPIRIT AEROSYSTEMS EXEC SAYS EXPECTS TO INCUR AN INCREMENTAL FORWARD LOSS OF ABOUT $15 MILLION TO $20 MILLION ON THE A350 FUSELAGE PROGRAM IN Q2

* SPIRIT AEROSYSTEMS EXEC SAYS EXPECTS SLOWER CASH FLOW RECOVERY GOING FORWARD DUE TO CUSTOMERS’ RECENTLY ANNOUNCED PRODUCTION RATE REDUCTION

* SPIRIT AEROSYSTEMS EXEC SAYS EXPECTS NEGATIVE FREE CASH FLOW IN 2020 LARGELY RESULTING FROM CUSTOMERS’ PRODUCTION RATE CUTS DUE TO COVID-19

* SPIRIT AEROSYSTEMS EXEC SAYS CO IS CONFIDENT ITS LIQUIDITY POSITION IS ADEQUATE EVEN AFTER COMPLETING THE 2 DEALS

* SPIRIT AEROSYSTEMS EXEC SAYS CUSTOMERS’ PRODUCTION FACILITY SUSPENSIONS TO HAVE FURTHER NEGATIVE IMPACT ON Q2 CASH FLOW

* SPIRIT AEROSYSTEMS EXEC SAYS EXPECTS TO BE BREAKEVEN ON CASH FLOW NEXT YEAR; GET TO CASH FLOW POSITIVE ON A RUN RATE BASIS BY ABOUT MID YEAR IN 2021

* SPIRIT AEROSYSTEMS EXEC SAYS CO HAD $1.8 BILLION OF CASH AT THE END OF Q1

* SPIRIT AEROSYSTEMS EXEC SAYS CO IS LOOKING AT POTENTIALLY $600 MILLION TO $700 MILLION ON A FULL YEAR BASIS OF NEGATIVE CASH FLOW Further company coverage:

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