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Spirit, which had halted production of the MAX parts on Jan. 1,
did not specify a date for restarting production.
The company's biggest customer, Boeing, said on Wednesday it was
expecting to resume MAX production ahead of a regulatory
approval for the jet's return to service by mid-2020.
Spirit will produce an average 18 shipsets — complete set of
parts for each aircraft — per month for the full-year, down from
52 in 2019.
"Spirit does not expect to achieve a production rate of 52
shipsets per month until late 2022," the company said in
statement.
Spirit also replaced its Chief Financial Officer Jose Garcia
with Mark Suchinski, who was vice president of quality at the
company, after identifying non-compliance in certain accounting
processes.
The company said the matter will not materially affect its
financial statements for the year ended Dec. 31, 2019.
Spirit's stock fell more than 7% in premarket trade.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil
D'Silva and Vinay Dwivedi)
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