Edition:
India

Spirit Aero Now Expects To Be Cash Flow Positive In 2022 - Conf Call


Tuesday, 4 Aug 2020 

Aug 4 (Reuters) - Spirit AeroSystems Holdings Inc ::SPIRIT AEROSYSTEMS CEO SAYS IN MID-JULY, CO MADE DECISION TO NOT RENEW THE SAN ANTONIO, TEXAS FACILITY LEASE - CONF CALL.SPIRIT AEROSYSTEMS CEO SAYS SHIFTING 737 SUBASSEMBLY WORK OUT OF CO'S MAIN PRODUCTION FACILITY INTO DIFFERENT LOCATIONS THAT ENABLE MORE LEAN AND EFFICIENT OPERATIONS.SPIRIT AEROSYSTEMS CEO SAYS MOVING WING BOX OF THE 737 FUSELAGE TO TULSA FACILITY AND THE 737 FORWARD FUSELAGE INTO A FORWARD FUSELAGE CENTER OF EXCELLENCE ON CO'S WICHITA CAMPUS.SPIRIT AEROSYSTEMS CEO SAYS DEVELOPING A NEW AUTOMATED PRODUCTION LINE TO IMPROVE THE ASSEMBLY OF SINGLE AISLE AIRPLANE FLOOR BEAMS; THE PROJECT IS ESTIMATED TO TAKE CURRENT CYCLE TIME OF 7 DAYS PER ASSEMBLY DOWN TO JUST HOURS.SPIRIT AEROSYSTEMS CEO SAYS CONTINUE TO SEE VALUE IN BOTH THE ASCO AND BOMBARDIER AEROSTRUCTURES DEALS; SAYS CO REMAINS ENGAGED IN DISCUSSION WITH THE PARTIES ON CLOSURE CONDITIONS.SPIRIT AEROSYSTEMS CFO SAYS CO HAS SUFFICIENT LIQUIDITY TO FUND PENDING ACQUISITIONS AND RUN CO'S OPERATIONS OVER THE NEXT 12 MONTHS.SPIRIT AEROSYSTEMS CFO SAYS CASH FLOW USAGE IS EXPECTED TO IMPROVE IN THE THIRD AND FOURTH QUARTERS, BUT CO CONTINUES TO EXPECT TO USE CASH FOR 2020.SPIRIT AEROSYSTEMS CEO SAYS NOW EXPECTS TO BE CASH FLOW POSITIVE IN 2022 INSTEAD OF 2021 AS ESTIMATED PREVIOUSLY.SPIRIT AEROSYSTEMS CEO SAYS WILL LAG BOEING ON THE 737 MAX PRODUCTION OVER THE NEXT 24 MONTHS.