Spirit posts second straight quarterly loss as virus hits aero parts demand By Reuters

August 4, 2020 admin Stock News 0

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© Reuters. The headquarters of Spirit AeroSystems Holdings Inc, is seen in Wichita

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(Reuters) – Airplane parts maker Spirit AeroSystems Holdings Inc (N:) reported a loss for the second straight quarter on Tuesday, as its main customers Boeing Co (N:) and Airbus SE (PA:) further cut production due to the COVID-19 pandemic.

Spirit, among the air industry’s biggest parts suppliers, posted a net loss of about $256 million, or $2.46 per share, in the second quarter ended July 2, compared with a profit of $168 million, or $1.61 per share, a year earlier.

Revenue plunged 68% to $644.6 million.

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