With the acquisition of Spirit AeroSystems now approved by shareholders, Boeing has reportedly discovered a significant inventory of 737 fuselages ready for shipment. This news, first reported by Reuters on February 4, was shared by a Boeing executive at a Seattle aerospace conference.
In 2024, Boeing delivered only 348 aircraft compared to 528 in the previous year. Deliveries of the 737 model dropped to 265 units due to production halts following a mass walkout in September. Despite these challenges, Boeing plans to gradually increase its production rate with an aim to produce around 38 units monthly. Ihssane Mounir, Boeing’s senior vice president for global supply chain and fabrication, noted improvements in the quality of fuselages produced by Spirit AeroSystems.
Spirit AeroSystems is addressing quality issues and financial difficulties while maintaining its commitment to meet production targets. Joe Buccino, spokesperson for Spirit AeroSystems, stated that “the company remains committed to meeting our customer’s production targets.”
The company has increased its monthly fuselage production from 21 to 31 units but still falls short of Boeing’s requirement of 38 units per month. However, their existing inventory provides some leeway as they align with Boeing’s output expectations.
Shareholders approved Boeing’s proposed acquisition of Spirit AeroSystems on January 31 during a special meeting. The transaction is expected to conclude mid-2025 after regulatory approvals are obtained. Irene Esteves, Chief Financial Officer at Spirit AeroSystems, remarked: “Our shareholders’ resounding approval today represents an important milestone in our carefully planned merger with Boeing.”
Boeing faced financial challenges in 2023 with revenues dropping by 14% from $77.8 billion in the previous year to $66.5 billion and reporting significant losses both operationally and net-wise. CEO Kelly Ortberg emphasized ongoing efforts towards stabilizing operations and improving safety and quality standards: “My team and I are focused on making the fundamental changes needed to fully recover our company’s performance.”
Boeing Commercial Airplanes reported revenues of $22.86 billion for 2024 alongside an operating loss of $8 billion compared to higher figures in the prior year.
