Spirit AeroSystems on Wednesday cut its full-year forecast for 737 fuselage deliveries, one of its biggest programs, as it grapples with a production defect involving improperly drilled holes on the aft pressure bulkhead.
The aerospace supplier said it expects to deliver 345 to 360 narrowbody fuselages in 2023, compared with its prior forecast of 370 to 390 units.
One of the industry's largest suppliers, Spirit has been struggling to stabilize cash flows due to rising labor costs and persistent inflationary pressures.
To add to its troubles, the company and largest customer Boeing in October expanded scope of their ongoing inspections of a production defect affecting 737 MAX 8 aircraft.
Boeing later cut its own 737 delivery forecast for the year due to quality woes at Spirit.
Spirit on Wednesday said third-quarter cash burn was $136 million, compared with a cash burn of $73 million a year ago.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Maju Samuel)
