“Substantial doubt.”
It’s what Spirit AeroSystems says about its ability to remain in business.
The Wichita, Kansas-based company is a key supplier to US planemaker Boeing and has a major operation in Tulsa, where 5 years ago, it hired 250 more employees and invested more than $80 million in capital projects. The Spirit AeroSystems Tulsa plant is the site of fuselage manufacturing and assembly work for Boeing.
Spirit launched a multi-year expansion in Tulsa beginning in 2019 and did so in partnership with the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW). The state of Oklahoma and City of Tulsa offered incentives to help secure the work statement in Tulsa with support from the Tulsa Regional Chamber of Commerce.
How would any Spirit AeroSystems decision impact the Tulsa operation? Obviously, directly. There has to be serious concern in the Tulsa operations and among its employees after Spirit Aero revealed it was burning through dwindling cash reserves because of the strike by Boeing factory workers, according to CNN. Cash balance for Spirit at the end of the 2024 third quarter totaled $218 million.
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