LOS ANGELES Another major
participant in the Boeing Co. supply chain says it is sticking
to its 787 Dreamliner production schedule despite the
aircrafts current problems.
Jeff Turner, president and chief
executive officer of Spirit AeroSystems Holdings Inc., told
securities analysts this week that Spirit hasnt modified
its 2013 delivery outlook on the 787 despite battery problems
that have temporarily grounded the roughly 50 aircraft already
The first-tier airframe
subcontractor intends to deliver 60 to 65 shipsets for the 787
in 2013, up from 43 in 2011, Turner told analysts, also noting
that Spirit began shipments last year for what is expected to
be the Dreamliners main rival, Airbus SAS new A350
"Our current guidance assumes
that the 787 and the A350 XWB will continue on the schedules
issued by our customers, and we continue to execute our
cost-reduction plans," he was quoted as saying in a conference
Spirit joins other major supply
chain participants such as Allegheny Technologies Inc. (ATI)
and RTI International Metals Inc., both based in Pittsburgh,
which have said that Boeing hasnt told them to rein in
their work on the Dreamliner (
amm.com, Jan. 23 and
Wichita, Kan.-based Spirit is
considered the largest airframe subcontractor on Boeings
commercial aircraft programs, with the majority of its revenue
coming from the Chicago-based aerospace giant. Spirit also
supplies shipsets for Boulogne-Billancourt, France-based
Airbus, as well as for various business and regional jets. Its
products include fuselage sections, wings and propulsion
products such as pylon and nacelle packages.
The airframe subcontractor
reported fourth-quarter net income of $60.7 million on $1.4
billion in revenue, up from $60.4 million in net income on $1.2
billion in revenue in the same year-ago period. However,
full-year net income fell to $34.8 million on revenue of $5.4
billion vs. net income of $192.4 million on revenue of $4.9
billion in 2011.
Production at the companys
Wichita operations was temporarily suspended in last April due
to tornado damage (
amm.com, April 19).
Spirit delivered 1,240 shipsets
last year compared with 1,089 in 2011. Deliveries in 2012
included 595 shipsets for Boeing, 561 to Airbus and 84 for
various business and regional jet programs.
Spirits backlog at the end
of last year was $35 billion, up about 4 percent from a year
earlier. Its backlog as of the end of the third quarter had
been $34 billion.
Meanwhile, Turner, who has
headed Spirit since it was founded in 2005 and who intends to
retire this year, said the company continues to seek a new
chief executive officer.
"Were looking at both
internal and external candidates thoroughly," he told