Oct 31 (Reuters) - Spirit AeroSystems ( SPR ) posted a
bigger third-quarter loss on Friday, as the aerospace supplier
continues to burn through cash, weighed down by higher costs in
its supply chain.
The company, which is set to be acquired by its former
parent, Boeing ( BA ), is grappling with rising costs that are
eating into margins.
The EU approved the $4.7 billion acquisition earlier this
month, after Boeing ( BA ) offered to divest all of Spirit's businesses
that currently supply aerostructures to European rival Airbus
.
Boeing ( BA ) offered remedies after the European Commission, which
acts as the EU antitrust enforcer, said the deal would have
significantly reduced competition in the global aerostructure
market and in the large commercial aircraft sector.
The deal, which is set to close in the fourth quarter, is
still awaiting U.S. approval.
Earlier on Friday, ratings agency S&P Global said the U.S.
government shutdown could likely delay that acquisition into
2026. However, an industry source told Reuters that he was not
expecting a delay into 2026.
Spirit posted a quarterly net loss of $724 million, or $6.16
per share, compared with a loss of $477 million, or $4.07
apiece, it reported a year ago.
Total revenues rose 8% to $1.59 billion in the quarter, up
from the $1.47 billion last year.