Spirit CEO: Bombardier, Asco Acquisitions Proceeding
Spirit AeroSystems sees "long-term value" in acquiring Asco and Bombardier's aerostructures unit, despite the effects of Covid-19 and 737 Max grounding.
Spirit AeroSystems saw a 45 percent year-over-year drop in first-quarter 2020 revenue as it wrestled with the continued ground of the Boeing 737 Max and a sharp reduction in aircraft production by Boeing and Airbus. (Photo: AIN/Jerry Siebenmark)
Spirit AeroSystems saw a 45 percent year-over-year drop in first-quarter 2020 revenue as it wrestled with the continued ground of the Boeing 737 Max and a sharp reduction in aircraft production by Boeing and Airbus. (Photo: AIN/Jerry Siebenmark)

Spirit AeroSystems plans to proceed with its acquisitions of Asco and Bombardier's aerostructures unit, despite a disastrous financial quarter marked by the continued grounding of the 737 Max, the effects of the Covid-19 pandemic on production rates, and thousands of layoffs. Spirit CEO Tom Gentile reiterated the Boeing supplier’s M&A plans during an earnings call Wednesday morning with analysts.