Spirit AeroSystems Shares Rise 6.9% After Report of Boeing Error

By Ben Glickman

Shares of Spirit AeroSystems were boosted Wednesday after a report suggested it may not be responsible for the blown-out panel on a Boeing flight.

The stock was up 6.9% to $28.53 in afternoon trading. Shares are down 10% since the start of the year.

The Seattle Times reported Wednesday that Boeing mechanics were responsible for improperly installing the panel, citing a person familiar with the details of the work.

A separate anonymous whistleblower said in an online post that the panel had been removed for repairs and then was reinstalled at Boeing's final assembly line, according to the Seattle Times.

Federal safety officials probing the incident said last week that Spirit had produced the door plug, which blew out of a Boeing 737 MAX 9 plane mid-flight. The Federal Aviation Administration is including Spirit in its investigation of the incident.

Boeing has previously said that Spirit is responsible for installing door plugs in fuselages, which are then shipped to Boeing by rail.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

January 24, 2024 14:18 ET (19:18 GMT)

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