Spirit AeroSystems Stock Drops Over 10% in 2025 Amid Factory Shutdown Before Union Strike
Spirit AeroSystems halts production at its Wichita plant as union workers prepare to strike, impacting shares and supply chains for major aircraft manufacturers.
Bill McColl brings over 25 years of expertise as a senior producer and writer across TV, radio, and digital platforms, leading news teams through major global events.
Essential Highlights
- Spirit AeroSystems suspends operations at its Wichita, Kansas facility ahead of a planned union strike.
- The union overwhelmingly rejected the company's four-year contract proposal, voting to initiate a strike starting Saturday.
- Spirit AeroSystems is a critical supplier to Boeing, Airbus, and other leading aircraft manufacturers.
Shares of Spirit AeroSystems Holdings (SPR) plunged more than 10% on Thursday morning following the announcement of a production halt at its Wichita, Kansas factory due to an impending strike by unionized employees.
As the world’s top producer of aerostructures for commercial airliners, business jets, regional jets, and defense platforms, Spirit revealed that after the International Association of Machinists and Aerospace Workers (IAM) voted to walk out, the company would proactively shut down production ahead of the contract expiration.
The IAM union members decisively rejected Spirit's four-year contract offer, with 79% voting against it and 85% approving the strike starting this Saturday. Spirit expressed disappointment, emphasizing that their proposal was fair, competitive, acknowledged employee contributions, and was designed to meet growing aircraft demand.
Major clients including Boeing (BA) and Airbus continue to monitor the developing situation closely. Boeing affirmed its ongoing support for Spirit as a valued supplier.
The strike news also negatively affected shares of Boeing (BA), Textron (TXT), and other companies reliant on Spirit’s components.
Explore useful articles in Company News as of 27-06-2023. The article titled " Spirit AeroSystems Stock Drops Over 10% in 2025 Amid Factory Shutdown Before Union Strike " offers in-depth analysis and practical advice in the Company News field. Each article is carefully crafted by experts to provide maximum value to readers.
The " Spirit AeroSystems Stock Drops Over 10% in 2025 Amid Factory Shutdown Before Union Strike " article expands your knowledge in Company News, keeps you informed about the latest developments, and helps you make well-informed decisions. Each article is based on unique content, ensuring originality and quality.