Spirit AeroSystems Holdings, Inc.

Li v. Spirit AeroSystems Holdings, Inc. et al., (Case No. 1:23-cv-03722), S.D.N.Y.

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After the market closed on April 13, 2023, Boeing announced that production and delivery of a “significant number” of its 737 Max planes could be delayed after being notified of a parts compliance issue by its supplier Spirit AeroSystems Holdings, Inc.

Boeing stated, “A supplier has notified us that a nonstandard manufacturing process was used during the installation of two fittings in the aft fuselage section of certain [737 MAX] airplanes, creating the potential for a nonconformance to required specifications,” and that “This is not an immediate safety of flight issue and the in-service fleet can continue operating safely. However, the issue will likely affect a significant number of undelivered 737 MAX airplanes, both in production and in storage.”

Shares of Spirit AeroSystems Holdings dropped sharply in premarket trading and were down more than 20% in intraday trading on April 14, 2023.

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