Spirit AeroSystems

Revenue and earnings were up in the second quarter for Spirit AeroSystems, according to an earnings report released Wednesday.

Revenue was $1.8 billion, up slightly from the same quarter in 2017. The increase was primarily due to more deliveries in the Boeing 737 program.

Operating income was $218 million. Spirit’s backlog at the end of the second quarter was approximately $47 billion, which includes work on all commercial platforms for Boeing and Airbus.

Spirit AeroSystems, Inc. / Twitter

Spirit AeroSystems announced Tuesday it would build a new research and development complex at its manufacturing site in Prestwick, Scotland.

The new center will be 70,000 square feet, nearly 10 times larger than the current facility. It will focus on several areas, including composite materials and virtual/augmented reality.

"The next generation of aircraft doesn't exist yet, and that's what we're concentrating on,” Spirit President and CEO Tom Gentile said in a statement. “Our engineers are inventing the future of flight."

Farnborough Airshow / Twitter

Business leaders in Wichita’s aviation industry, along with state and city economic development officials, will be in England this week for the Farborough International Airshow.

The airshow, which begins today and runs through Friday, is considered the world’s largest. More than 75 of the world’s top 100 aerospace companies will attend the show, which is held every two years.

In 2016, more than $124 billion in airplane orders and commitments were announced at Farnborough.

Spirit AeroSystems

Spirit AeroSystems said Wednesday it will acquire a European company, refinance its debt, repurchase shares of its stock and increase its quarterly dividend.

The announcements were part of the Wichita company’s first-quarter earning statements. Spirit is the city’s largest private employer.

https://wsutech.edu/

WSU Tech in Wichita is expanding an aviation training program in order to meet workforce demand from Spirit AeroSystems and other companies.

Nadya Faulx

Spirit AeroSystems will have a presence on Wichita State University’s Innovation Campus as part of a collaboration announced Thursday between the school and the state’s largest employer.

Nadya Faulx / KMUW

Spirit AeroSystems celebrated a milestone on Friday: 10,000 deliveries in the Boeing 737 program, which the company says is a production first for a commercial airline.

Spirit AeroSystems reported strong growth in 2017 and expects similar results in 2018, according to an earnings report released Friday.

The city’s largest employer said revenue was up about 3 percent in 2017, to $7 billion. Revenue in 2018 is forecast to grow slightly.

Operating income dropped about 20 percent in 2017 to $569 million, due mostly to a new contract with Boeing, its biggest customer, the company said. But Spirit is forecasting income growth in 2018.

OSHA has cited Spirit AeroSystems for exposing workers to high levels of a cancer-causing agent, a claim the company disputes.

The Occupational Safety and Health Administration said in a news release Wednesday that some Spirit employees were exposed to hexavalent chromium at nearly twice the permissible limit. OSHA cited the company for one willful and five serious violations it observed in August. The agency is proposing penalties of nearly $200,000.

Paul Thompson / flickr Creative Commons

Boeing Co. is forecasting better-than-expected earnings and revenue in 2018.

Along with rival Airbus, Boeing is benefiting from demand for new airliners that has created huge backlogs lasting several years. Aircraft deliveries are generating immediate cash faster than Wall Street expected.

Spirit AeroSystems, Wichita's largest employer, is a major supplier to Boeing and also does work for Airbus. Spirit will release its fourth-quarter and 2017 financial report on Friday.

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