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Spirit posts second straight quarterly loss as virus hits aero parts demand

Credit: REUTERS/NICK OXFORD

Airplane parts maker Spirit AeroSystems Holdings Inc reported a loss for the second straight quarter on Tuesday, as its main customers Boeing Co and Airbus SE further cut production due to the COVID-19 pandemic.

Aug 4 (Reuters) - Airplane parts maker Spirit AeroSystems Holdings Inc SPR.N reported a loss for the second straight quarter on Tuesday, as its main customers Boeing Co BA.N and Airbus SE AIR.PA further cut production due to the COVID-19 pandemic.

Spirit, among the air industry's biggest parts suppliers, posted a net loss of about $256 million, or $2.46 per share, in the second quarter ended July 2, compared with a profit of $168 million, or $1.61 per share, a year earlier.

Revenue plunged 68% to $644.6 million.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli)

((ankit.ajmera@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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