Spirit Aero Uses Commercial Downturn To Shore Up Processes | Aviation International News

Spirit Aero Uses Commercial Downturn To Shore Up Processes

The Wichita-based supplier to Airbus and Boeing saw 2020 revenue nearly halved by the 737 Max grounding and Covid-19's effect on commercial aviation.

By Jerry Siebenmark • Senior Editor

February 23, 2021

Facing a crushing 2020 characterized by an extended grounding of the Boeing 737 Max and compounded by the Covid-19 pandemic that slowed airline travel—and new airplane demand—to a trickle, Spirit AeroSystems used the depressed commercial aircraft environment to improve its manufacturing processes and quality, president and CEO Tom Gentile said on the Airbus and Boeing supplier’s fourth quarter and year-end 2020 earnings call Tuesday. For the year, Spirit recorded an $870 million loss on revenue of $3.4 billion, which amounts to a 57 percent decline from 2019.

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