Spirit AeroSystems Stock Rises 6% After Boeing Commentary on Deal
By Will Feuer
Shares of Spirit AeroSystems rose after Boeing Chief Financial Officer Brian West said the company is in favor of re-combining the two businesses.
Spirit stock rose 6% to $34.88 in morning trading. Shares are up more than 13% from a year ago.
"We believe, and Spirit believes, that reintegrating these two companies is what's best for safety and for quality for the aerospace industry," West told analysts at the Bank of America Global Industrials Conference.
"Boeing, more than 20 years ago, probably got a little too far ahead of itself on the topic of outsourcing," he said.
A deal, if reached, would be funded by cash and debt, rather than stock, in order to protect Boeing's investor-grade credit rating, West said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
March 20, 2024 10:21 ET (14:21 GMT)
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