Spirit AeroSystems Welcomes Ratification of New Contract with International Association of Machinists and Aerospace Workers; Will Fully Resume Work at its Wichita Plant

WICHITA, Kan., June 29, 2023 /PRNewswire/ -- Spirit AeroSystems, Inc., a subsidiary of Spirit AeroSystems Holdings, Inc. [NYSE: SPR] ("Spirit AeroSystems"), welcomes today's ratification of a new four-year contract with members of Local Lodge 839 of the International Association of Machinists and Aerospace Workers (IAM). 

The company announced it will begin restoring operations at its Wichita plant tomorrow, Friday, June 30, and begin to fully resume production on Wednesday, July 5. 

"We listened closely to our employees and brought forward a fair-and-competitive offer," said Tom Gentile, President and CEO of Spirit AeroSystems.  "With its approval by our IAM-represented employees, we look forward to getting back to the important work of delivering quality products to our customers."

Spirit will closely coordinate with its suppliers and customers as it restarts production, and the company remains focused on safety and quality standards as it ramps up production.

Spirit AeroSystems, Inc. ("Spirit") is a subsidiary of Spirit AeroSystems Holdings, Inc. [NYSE: SPR] ("Spirit AeroSystems").

About Spirit AeroSystems Inc.
Spirit AeroSystems is one of the world's largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company's core products include fuselages, integrated wings and wing components, pylons, and nacelles. We are leveraging decades of design and manufacturing expertise to be the most innovative and reliable supplier of military aerostructures, and specialty high-temperature materials, enabling warfighters to execute complex, critical missions.  Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" that may involve many risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "aim," "anticipate," "believe," "could," "continue," "estimate," "expect," "goal," "forecast," "intend," "may," "might," "objective," "outlook," "plan," "predict," "project," "should," "target," "will," "would," and other similar words, or phrases, or the negative thereof, unless the context requires otherwise. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in such forward-looking statements and that should be considered in evaluating our outlook include, without limitation, the impact of the COVID-19 pandemic on our business and operations; the timing and conditions surrounding the full worldwide return to service (including receiving the remaining regulatory approvals) of the B737 MAX, future demand for the aircraft, and any residual impacts of the B737 MAX grounding on production rates for the aircraft; our reliance on Boeing for a significant portion of our revenues; our ability to execute our growth strategy, including our ability to complete and integrate acquisitions; our ability to accurately estimate and manage performance, cost, and revenue under our contracts; demand for our products and services and the effect of economic or geopolitical conditions in the industries and markets in which we operate in the U.S. and globally; our ability to manage our liquidity, borrow additional funds or refinance debt; and other factors disclosed in our filings with the Securities and Exchange Commission. These factors are not exhaustive and it is not possible for us to predict all factors that could cause actual results to differ materially from those reflected in our forward-looking statements. These factors speak only as of the date hereof, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. Except to the extent required by law, we undertake no obligation to, and expressly disclaim any obligation to, publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Spirit AeroSystems