Why Shares of Spirit AeroSystems Were Up Today
Shares of Spirit AeroSystems (NYSE: SPR) gained 10.7% on Wednesday, as key customer Boeing (NYSE: BA) restarted its 737 Max production line. Spirit's fortunes are closely tied to Boeing, its former parent, and the restarted production is good news for beleaguered Spirit shares.
Spirit AeroSystems makes the fuselages for the 737 Max, and the company was having troubles well before the COVID-19 pandemic, due to the aircraft being grounded after a pair of fatal crashes. The pandemic has only made it more difficult for Boeing and its suppliers, as airlines have been forced to ground planes and rethink growth plans due to a slump in travel.
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Source Fool.com
