Boeing supplier Spirit cuts dividend due to 737 MAX crisis
FILE PHOTO: A train transports a Boeing 737 fuselage manufactured by Spirit AeroSystems near Bozeman, Montana, U.S., July 25, 2019. Picture taken July 25, 2019. REUTERS/Charles Eckert/File Photo
“The Company’s Board will consider further action with respect to the dividend in the future, upon the MAX’s return to service and further production stabilization,” Spirit Chief Executive Officer Tom Gentile said in a statement.Boeing last month halted production of the MAX, which has been grounded for more than 10 months following two fatal crashes that killed 346 people.
The payment is part of a deal announced with Boeing last month. Spirit plans to deliver 216 shipsets to Boeing in 2020 as part of the deal.
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