Last month, Spirit Aero reported that it was depleting its limited cash reserves, primarily due to a strike by Boeing's U.S. factory workers, which severely impacted the Wichita, Kansas-based company that manufactures the fuselage for Boeing's best-selling 737 MAX aircraft.
As of the end of the third quarter of 2024, Spirit's cash reserves stood at $218 million, as noted in an October filing.
This recent announcement coincides with Boeing's efforts to resume production of the 737 MAX following the conclusion of a weeks-long strike on Monday night. The strike, involving over 33,000 workers on the U.S. West Coast, disrupted the production of most of Boeing's commercial jet models, including the 737.
“We have a variety of options and strategies to manage our financial and operational challenges and are collaborating with our customers on these issues," stated Joe Buccino, a spokesperson for Spirit Aero, which plays a vital role as a supplier for both Boeing and its competitor Airbus.
Boeing chose not to provide any comments on the matter.
The company successfully raised over $24 billion last month.
In October, Spirit Aero confirmed that it had fully utilized a $350 million bridge loan established when Boeing agreed to acquire the supplier in June, corroborating an earlier report from Reuters. Additionally, Spirit Aero has previously indicated that it had exhausted a $425 million customer advance from Boeing.