Category Archives: Spirit AeroSystems

SPEEA petitions for Trade Act assistance for laid-off Spirit AeroSystems workers

Spirit AeroSystems engineering and professional and technical union has filed a petition with the U.S. Department of Labor seeking training, income support and other benefits for laid-off workers through the federal Trade Act.

The filing was made by the Society of Professional Engineering Employees in Aerospace as Spirit announced a second round of layoffs in two months.

Trade Act funding is designed to help laid-off workers impacted by increased imports or companies moving work to other countries.

If approved, the laid-off employees at Spirit can apply for additional assistance, such as long-term training tuition allowance, income support, health care tax credit and job search and relocation allowances, SPEEA said.

Spirit announced Thursday that it will be offering voluntary retirements, voluntary layoffs and will also have involuntary layoffs as it works to reduce costs. A number has not been determined, the company said.

The cuts will affect salaried employees and managers.

In July, Spirit laid off 360 employees in Wichita and Tulsa. The company employs about 10,750 in Wichita.

 

 

 

Spirit AeroSystems new CFO’s employment agreement includes $525,000 salary, incentives and bonuses

Spirit AeroSystems new senior vice president and chief financial officer, Sanjay Kapoor, will earn an annual salary of $525,000, two cash sign-on bonuses totaling $250,000 and two $1 million buyout signing bonus stock awards, according to a filing Monday with the Securities and Exchange Commission.

The company announced last week that Kapoor, 53, a former vice president for Raytheon Integrated Defense Systems, will join the company as senior vice president and chief financial officer. The current CFO, Phil Anderson, will switch positions and lead the company’s defense and contracts.

Kapoor’s job becomes effective September 23.

As vice president of Raytheon’s Integrated Defense Systems division, Kapoor led a team of 4,000 employees and managed “every aspect of that business,” the filing said.

Prior to that position, he was vice president of finance and chief financial officer for the Raytheon division.

Kapoor received a bachelor of technology degree from the Indian Institute of Technology in New Delhi and earned dual master of business administration degree in finance and entrepreneurial management from The Wharton School at the University of Pennsylvania.

His annual salary may be adjusted from time to time based on Kapoor’s and the company’s performance, the filing said.

One of the two restricted stock awards valued at $1 million per award will be subject to a three-year vesting schedule with one-third of the award vesting after each year of service. The other award has a four-year vesting schedule with one-fourth of the award vesting after each year of service.

He also will be eligible for a cash or equity discretionary bonus with a target of 10 percent of his annual salary.

Kapoor’s employment agreement provides short-term and long-term incentives. He will receive an award equal to 100 percent of his base salary if target performance goals are reached and up to 200 percent of his salary if outstanding performance goals are reached. The amount will be depend on Spirit’s achievement of performance objectives, the filing said. Under the plan they could be less, more or equal to the target bonus and “could be zero.”

Kapoor’s employment may be terminated at any time by Spirit or Kapoor “for any reason or no reason, without cause,” the filing said. It may also be terminated by Spirit “for cause.”

 

 

Boeing completes first 787-9 Dreamliner

Boeing has completed the first 787-9 Dreamliner, a stretch version of its 787-8, the company said.

The plane rolled out of Boeing’s Everett, Wash., factory  to the flight line on Monday. And teams are preparing the plane for first flight later this summer.

Spirit AeroSystems builds the nose section of both versions.

The 787-9 is 20 feet longer than the 787-8, carries 40 more passengers and flies an additional 300 nautical miles.

The second and third planes are in final assembly and the program is on track, the company said.

First delivery to Air New Zealand, the launch customer for the 787-9, is scheduled for mid-2014.

 

Cathay Pacific Airways recognizes Spirit AeroSystems Aftermarket business

Spirit AeroSystems’s Aftermarket Customer Support division was recognized by Cathay Pacific Airways.

Cathay Pacific gave Spirit it’s High Performing Partner Award.

In 2008, Spirit received a contract  to provide overhaul, repair and modification services for Cathay Pacific’s fleet of 777 Trent 800 thrust reversers.

The repair work is performed at Taikoo Spirit AeroSystems Composite Co., a joint venture with Spirit, HAECO/TAECO and others.

The business is located in Jinjiang, China.

“Cathay Pacific is a key customer to Spirit’s Aftermarket segment,” Mike Williams, Spirit Aftermarket Customer Support vice president and general manager, said in a statement. “We are very pleased to receive this award based on our customer’s high service standards.”

Cathay Pacific operates 24 Boeing 747, 49 Boeing 777, 37 Airbus A330 and 11 Airbus A340 airplanes. It has 80 firm orders on the books with Boeing and Airbus for additional planes.

 

SPEEA to hold meetings for Spirit AeroSystems laid-off workers

Spirit AeroSystems’ engineering and professional and technical union is holding a series of meetings today (Wednesday) to help represented employees laid off last week.

The Society of Professional Engineering Employees in Aerospace will hold the meetings at its office at 973 S. Glendale on the lower level of Parklane Shopping Center.

Representatives from the state’s Department of Labor Unemployment Insurance, the Wichita Workforce Center and Kansas Consumer Credit Counseling Service will be on hand to give an overview and answer questions.

Spirit laid off about 360 salaried support and managers on Thursday, the first major cut in its company’s history. That includes more than 200 SPEEA-represented employees.

Because of limited seating, meeting times are based on the first letter of the last name.

A-H 10 a.m. to noon

I-R 1 p.m. to 3 p.m.

S-Z 4 p.m. to 6 p.m.

Boeing, Spirit AeroSystems facilities in Oklahoma not damaged by tornado

Employees at Boeing’s Oklahoma City offices took shelter during the time a massive tornado hit Moore, Okla., about a 20 minute drive away.

Everyone was safe, said Boeing’s Oklahoma City spokeswoman Jennifer Hogan.

The offices have not been damaged.

There’s no word yet on whether any Boeing employees’ homes  have been hit, however.

About 100 employees live in the Moore area. It’s not known how many of them are transfers from Boeing’s Wichita facility, said Boeing spokeswoman Michelle Nalley.

Spirit AeroSystems’ plants in McAlester and Tulsa, Okla., have not been hit, said Spirit spokesman Ken Evans.

“Our thoughts are with those who are working and those who have homes in that area,” Evans said.

He doesn’t know whether any employees’ homes were damaged, he said.

“We’re wanting to make sure everybody is going to be safe,” Evans said. “Safety is our No. 1 priority.”

 

Spirit AeroSystems recognizes seven suppliers as “Platinum Suppliers”

Quality, cost and on-time delivery counts.

Spirit AeroSystems recognized seven of its suppliers, including five in the Wichita area, as Platinum Suppliers of 2012.

The suppliers were selected based on their performance last year as it relates to quality, on-time delivery, commitment to cost reductions and willingness to partner with Spirit for overall improvement in value to the company, Spirit said.

“In today’s aerospace environment, it is increasingly important to seek suppliers that provide the best total value for cost, quality and delivery,” Rob Mattinson, Spirit vice president of corporate supply chain management and global strategy, said in a statement.

The suppliers honored include:

Dynamic NC, Udall

Globe Engineering Co., Wichita

Labinal Services, Wichita office

Logistics Resources, Wichita

ZTM, Wichita

All Metal Services, London

M. Torres, Pamplona, Spain

Spirit AeroSystems executives Mike King and Buck Buchanan to retire

Two key Spirit AeroSystems executives plan to retire this summer.

Spirit executive vice president and chief operations officer Mike King and senior vice president of advanced projects Buck Buchanan have announced their plans to retire.

Both will remain with Spirit until their retirement dates, which are yet to be determined. Their successors have not been selected as well, said Spirit spokesman Ken Evans.

King and Buchanan both started working for Boeing Wichita in 1980, then joined Spirit after Boeing sold its Wichita commercial aircraft division in 2005, forming the stand-alone company.

 

Boeing praises suppliers on its 737 as it delivers 7,500th jet

Boeing is praising the role its suppliers play in the production of its popular 737 single-aisle jetliner, as it celebrates delivery of its 7,500th plane.

The Next Generation 737 contains about 400,000 parts per airplane built by 325 suppliers in 30 countries.

U.S. suppliers come from 41 states and Puerto Rico.

That includes the 737′s largest supplier, Spirit AeroSystems in Wichita. Spirit builds the plane’s fuselage, pylons and thrust reversers.

It also builds wing components at its Tulsa facility.

Spirit ships the fuselages by rail to Renton, Wash., for completion.

“The success of the 737 shows what is possible when we partner with the world’s best aerospace companies,” Kent Fisher, Boeing Commercial Airplanes vice president and general manager, said in a statement. “Our long-term competitiveness in the marketplace depends on a continued focus on quality, reliability and affordability.”

Boeing has projected demand for single-aisle airplanes over the next 20 years to total 23,240 jets valued at $2 trillion.

The company is increasing 737 production rates from 38 planes a month to 42 a month in the first half of 2014.

The 7,500th 737 to come off of the production line was delivered to Malindo Air in Malaysia.

Since its introduction, the company has taken orders for more than 10,500 737s from 265 customers.

A 737 takes off or lands every two seconds, according to Boeing.

In 2017, Boeing will begin deliveries of the 737 MAX, with new engines and more fuel efficiency.

 

NTSB to hold forum and hearing on 787 battery investigation

The National Transportation Safety Board plans to hold a forum and hearing in April related to the investigation into a battery fire on a Japan Airlines’ Boeing 787 Dreamliner in Boston.

“With the grounding of the 787 fleet, concurrent international incident investigations, redesign and re-certification activities taking place simultaneously, it is essential to provide the aviation community, policy makers and the public with the factual information we are developing,” NTSB chairman Deborah Hersman said in a statement.

The forum, to be held in mid-April, will explore lithium-ion battery technology and transportation safety, the NTSB said. The hearing, to be held later in April, will focus on the design and certification of the 787 battery system.

The information will help the NTSB and the transportation community understand the risks and benefits of lithium batteries.

It also will help the understanding of how manufacturers and regulators evaluate the safety of the new technology, the agency said.

The NTSB released an interm report Thursday along with 499 pages of data related to the investigation.