Boeing supplier Spirit Aero’s workers approve new contract

Shares of Spirit AeroSystems Holdings Inc.
SPR,
-0.75%
edged lower Friday, a day after workers at the Boeing Co.
BA,
-0.32%
supplier approved a new labor contract and are expected to return to work by next week. “With a full week’s worth of disruption at the [Wichita, Kan.] facility, we expect incremental delays on production, most notably for the 737 Max, 777, and 787 aircraft,” RBC Capital analyst Ken Herbert said in a note Friday. “We do still believe Boeing (BA) can meet its delivery targets for the full year … We view the quick resolution of the contract as a positive, and see the ultimate impact on production schedules as minimal.” For Spirit, the focus shifts to worker training and development as “the challenge for SPR will remain the efficiency of the workforce as it looks to push through very accelerated production increases on the Boeing 737 Max,” Herbert said. Spirit makes fuselage and other key components for Boeing jets and workers voted to strike last week.