Spirit AeroSystems Holdings, Inc. Reports Second Quarter 2009 Financial Results; Results Include Unusual Items; Updates 2009 Fin

- Second quarter 2009 Revenues of $1.06 billion - EPS of ($0.06) per share after unusual items - Cash and Cash Equivalents were $89 million - Total backlog of approximately $28.2 billion


WICHITA, Kan., July 30  /PRNewswire-FirstCall/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) reported second quarter financial results reflecting $1.06 billion in revenue and a loss of ($0.06) per share.  Included in the EPS results are several unusual items that, in the aggregate, reduced pre-tax income by ($137) million and net income by ($95) million, or ($0.67) per share. (Table 1)

Unusual items in the quarter include the recognition of a forward-loss on the Gulfstream G250 wing program and tooling contract that reduced pre-tax income by ($93) million, or ($0.46) per share; an unusually large unfavorable cumulative catch-up adjustment related to the residual effects of the strike and nutplate rework along with the ERP systems transition that reduced pre-tax income by ($33) million, or ($0.16) per share; and Spirit's estimate of the impact of Textron's decision to terminate the Cessna Citation Columbus business jet program that reduced pre-tax income by ($11) million, or ($0.05) per share.

  Table 1.  Summary Financial Results

   ($ in Millions,    2nd Quarter                   Six Months
   except per         -----------                   ----------
   share data)       2009     2008      Change     2009    2008      Change
  ---------------    ----     ----      ------     ----    ----      ------

  Revenues         $1,060   $1,062        (0.2%) $1,947  $2,099         (7%)
  Operating
   Income (Loss)     ($10)    $136        (108%)    $87    $266        (67%)
  Operating
   Income (Loss)
   as a % of
   Revenues         (1.0%)   12.8%   (1,380) BPS   4.5%   12.7%    (820) BPS
  Net Income
   (Loss)             ($8)     $86        (110%)    $54    $172        (68%)
  Net Income
   (Loss) as a %
   of Revenues      (0.8%)    8.1%     (890) BPS   2.8%    8.2%    (540) BPS
  Earnings per
   Share (Fully
   Diluted)        ($0.06)   $0.62        (110%)  $0.39   $1.23        (68%)
  Fully Diluted
   Weighted Avg
   Share Count
   (Millions)       138.0    139.8                139.9   139.8



Revenue for the second quarter of 2009 of $1.06 billion was essentially unchanged from the same period in 2008 as fewer 747 ship set deliveries related to the transition to the 747-8 model and $29 million of unfavorable foreign exchange impact due to the strengthening dollar were offset by higher volumes on Airbus products and increased revenue on development programs.

"This is obviously a disappointing quarter for us financially," said President and Chief Executive Officer Jeff Turner.  "Our Wichita operations were disrupted as residual effects from the strike and the nutplate rework along with the implementation of a new ERP system reduced operating efficiencies.  Despite these disruptions, the company continued to meet customer deliveries and made good progress in returning to pre-strike operating performance levels," Turner said.  "We also encountered additional challenges during our development efforts on the G250 wing program at our Tulsa facility.  While we believe the G250 program will be successful over the long-term, several factors culminated in the second quarter that indicated the program was likely in a loss position. These factors included a re-assessment of both market and execution risk, the cumulative cost impact of late design and engineering changes, and increased cost forecasts for vendor supplied parts and internal manufacturing,"  Turner continued.  "We have taken the necessary steps to improve our performance in Tulsa, including implementation of a more robust program management process including aggressive engineering change control, and making a number of management changes at the Tulsa division.  We believe these changes will get the G250 program back on track and we expect the other Tulsa programs to deliver solid long-term financial performance," Turner concluded.

Spirit's backlog at the end of the second quarter 2009 was $28.2 billion, a slight decrease from the end of the first quarter 2009, as Airbus and Boeing second quarter deliveries exceeded orders.  During the quarter, Spirit was selected to design and manufacture engine pylons for the Bombardier CSeries airplane, which is now included in Spirit's backlog. The company continues to pursue new business opportunities in commercial aerospace and defense markets. Spirit calculates its backlog based on contractual prices for products and volumes from the published firm order backlogs of Airbus and Boeing, along with firm orders from other customers.

The company realized a pre-tax charge of approximately $93 million, or $0.46 per fully diluted share, to recognize a forward-loss for the Gulfstream G250 business jet program.  While early in its product lifecycle, Spirit now believes its G250 wing production and tooling contracts are both in a loss position due to significant overruns in expected development costs, uncertainty in recurring cost estimates versus negotiated selling prices, and continued softening in the business jet market.  Spirit expects to recognize zero gross margin on the program going forward while it continues to develop plans for production cost savings and working contractual issues with the customer.  The development effort on the G250 wing production contract is now approaching completion and the tooling contract is complete.

Spirit updated its contract profitability estimates during the second quarter of 2009 that resulted in a $33 million unfavorable cumulative catch-up adjustment.  The unfavorable cumulative catch-up adjustment was driven by the higher than forecasted disruption related to the post-strike ramp-up of production after the Machinists' strike at Boeing, the residual effects of the nutplate rework, and the simultaneous transition to a new ERP system, all of which drove inefficiencies in our Wichita operations.  Spirit believes these disruptions were largely resolved by the end of the second quarter and normal operations have now resumed.  Spirit recognized a $4 million favorable cumulative catch-up adjustment during the second quarter of 2008.

The company's second quarter financial results also include the estimated impact of Textron's announced decision on July 8, 2009, to terminate the Cessna Citation Columbus business jet program. Spirit expensed $11 million pre-tax, or $0.05 per fully diluted share, of inventory related to development work on the airplane's fuselage and empennage.

Cash flow from operations was ($67) million for the second quarter of 2009, compared to $7 million for the second quarter 2008 as $20 million of net customer advances were liquidated in the second quarter of 2009 compared to the net receipt of $95 million in advance payments during the second quarter of 2008. (Table 2)

  Table 2.  Cash Flow and Liquidity

                                   2nd Quarter         Six Months
                                   -----------         ----------
  ($ in Millions)                 2009     2008     2009       2008
  ---------------                 ----     ----     ----       ----

  Cash Flow from Operations       ($67)      $7    ($216)       $78
  Purchases of Property, Plant &
   Equipment                      ($52)    ($54)   ($107)     ($119)

                                                   July 2,  December 31,
  Liquidity                                         2009       2008
                                                    ----       ----

  Cash                                               $89       $217
  Total Debt                                        $736       $588





Cash balances at the end of the second quarter of 2009 were $89 million and debt balances were $736 million.  During the second quarter of 2009, the company utilized its credit-line as it continued to invest in development programs.  Spirit ended the quarter with $150 million borrowed from its revolving credit facility while $579 million remained unused.  Approximately $17 million of the credit facility is reserved for financial letters of credit.

During the second quarter Spirit extended its revolving credit facility to June 2012.  The new facility temporarily increases total borrowing capacity from $650 million to $729 million, as new and existing lenders provide additional capacity, with a step down from $729 million to $409 million in capacity in June 2010.

The company's credit ratings remained unchanged at the end of the second quarter 2009 with a BB rating at Standard & Poor's and a Ba3 rating at Moody's.

2009 Outlook

Spirit revenue guidance for the full-year 2009 has been lowered slightly to reflect the termination of the Cessna Citation Columbus program.  Revenue is now expected to be between $4.2 and $4.3 billion based on Boeing's 2009 delivery guidance of 480-485 aircraft; anticipated ramp-up of 787 deliveries; 2009 expected Airbus deliveries of approximately 483 aircraft; internal Spirit forecasts for non-OEM production activity and non-Boeing and Airbus customers; and foreign exchange rates consistent with year-end 2008 levels.

Fully diluted earnings per share for 2009 are now expected to be between $1.45 and $1.55, reflecting the impact of the unusual items booked in the second quarter of 2009.

Cash flow from operations less capital expenditures, net of customer reimbursements, is not expected to exceed a ($100) million use of cash in the aggregate for the full-year 2009, with capital expenditures expected to be approximately $250 million. (Table 3)

  Table 3.  Financial Outlook    2008 Actual    2009 Guidance     Change
  ---------------------------    -----------    -------------     ------

  Revenues                      $3.8 billion       $4.2 -        11% - 13%
                                               $4.3 billion

  Earnings Per Share
   (Fully Diluted)                    $1.91    $1.45 - $1.55   (24%) - (19%)

  Effective Tax Rate (%
   Pre-Tax Earnings)                   30.9%     31% - 32%

  Cash Flow From Operations    $211 million*

  Capital Expenditures         $236 million*

  Customer Reimbursement       $116 million*


  *($100M) with ~$250 million of Capital Expenditures



  Cautionary Statement Regarding Forward-Looking Statements



This press release contains "forward-looking statements." Forward-looking statements reflect our current expectations or forecasts of future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "intend," "estimate," "believe," "project," "continue," "plan," "forecast," or other similar words. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to: our ability to continue to grow our business and execute our growth strategy, including the timing and execution of new programs; reduction in the build rates of certain Boeing aircraft including, but not limited to, the B737 program, the B747 program, the B767 program and the B777 program, and build rates of the Airbus A320 and A380 programs, which could be affected by the impact of a deep recession on business and consumer confidence and the impact of continuing turmoil in the global financial and credit markets; declining business jet manufacturing rates and customer cancellations or deferrals as a result of the weakened global economy; the success and timely execution of key milestones such as first flight and delivery of Boeing's new B787 and Airbus' new A350 aircraft programs, including receipt of necessary regulatory approvals and customer adherence to their announced schedules; our ability to enter into supply arrangements with additional customers and the ability of all parties to satisfy their performance requirements under existing supply contracts with Boeing, Airbus, and other customers; any adverse impact on Boeing's and Airbus' production of aircraft resulting from cancellations, deferrals or reduced orders by their customers; any adverse impact on the demand for air travel or our operations from the outbreak of diseases such as the influenza outbreak caused by the H1N1 virus, avian influenza, severe acute respiratory syndrome or other epidemic or pandemic outbreaks; returns on pension plan assets and impact of future discount rate changes on pension obligations; our ability to borrow additional funds or refinance debt; competition from original equipment manufacturers and other aerostructures suppliers; the effect of governmental laws, such as U.S. export control laws, the Foreign Corrupt Practices Act, environmental laws and agency regulations, both in the U.S. and abroad; our ability to perform our obligations and manage cost related to our new commercial and business aircraft development programs; the cost and availability of raw materials and purchased components; our ability to successfully extend or renegotiate our primary collective bargaining contracts with our labor unions; our ability to recruit and retain highly skilled employees and our relationships with the unions representing many of our employees; spending by the U.S. and other governments on defense; the outcome or impact of ongoing or future litigation and regulatory actions; and our exposure to potential product liability claims.  These factors are not exhaustive, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

  Appendix

  Segment Results

  Fuselage Systems


Fuselage Systems segment revenues for the second quarter of 2009 were $541 million, up 10 percent over the same period last year, as increased development program revenues more than offset fewer 747 deliveries.  Operating margin for the second quarter of 2009 was 11.0 percent, down from 18.7 percent in the second quarter of 2008, as an unfavorable cumulative catch-up of $23 million was realized during the second quarter of 2009.  The unfavorable cumulative catch-up adjustment was driven by disruption related to the post-strike production ramp-up after the Machinists' strike at Boeing, the residual effects of the nutplate rework, and Spirit Wichita's transition to a new ERP system, as well as an $11 million pre-tax charge for the estimated termination costs associated with the Cessna Citation Columbus program.

During the second quarter of 2008, the segment realized a favorable $3 million cumulative catch-up adjustment.

Propulsion Systems

Propulsion Systems segment revenues for the second quarter of 2009 were $279 million, down 6 percent over the same period last year due to fewer 747 deliveries and slightly lower aftermarket sales.  Operating margin for the second quarter of 2009 was 8.3 percent, down from 16.6 percent in the second quarter of 2008, as an unfavorable cumulative catch-up of $18 million was realized during the second quarter of 2009.  The unfavorable cumulative catch-up adjustment was driven by disruption related to the post-strike production ramp-up after the Machinists' strike at Boeing and Spirit Wichita's transition to a new ERP system.

Wing Systems

Wing Systems segment revenues for the second quarter of 2009 were $235 million, down 11 percent over the same period last year as increased deliveries to Airbus were more than offset by fewer 747 deliveries and the strengthening U.S. dollar which reduced revenue by $29 million relative to the same period a year ago.  The strengthening dollar has reduced revenues by $70 million during the six months ended July 2, 2009, versus the same prior year period.  Operating margin for the second quarter of 2009 was (25.1) percent, down from 12.4 percent in the second quarter of 2008.  The margin decline reflects a $90 million forward-loss on the Gulfstream G250.  The segment realized a favorable cumulative catch-up of $8 million during the second quarter of 2009 as remaining costs in the current accounting blocks for the core businesses are forecasted to improve.

During the second quarter of 2008, the segment realized a favorable $1 million cumulative catch-up adjustment.

Other

During the second quarter of 2009, a $3 million loss provision was recognized in the other segment related to the G250 tooling contract that is now complete.

  Table 4.  Segment Reporting

  ($ in
   Millions,            (Unaudited)                     (Unaudited)
   except               2nd Quarter                      Six Months
   margin               -----------                      ----------
   percent)      2009       2008     Change      2009       2008     Change
  ----------     ----       ----     ------      ----       ----     ------
  Segment
   Revenues
   Fuselage
    Systems    $541.2     $493.4       9.7%    $971.7     $985.4      (1.4%)
   Propulsion
    Systems    $278.5     $296.9      (6.2%)   $505.9     $571.6     (11.5%)
   Wing
    Systems    $234.7     $264.4     (11.2%)   $455.6     $526.7     (13.5%)
   All Other     $5.2       $7.4     (29.7%)    $13.8      $14.8      (6.8%)
                 ----       ----     -----      -----      -----      ----
  Total
   Segment
   Revenues  $1,059.6  $1,062.1       (0.2%) $1,947.0   $2,098.5      (7.2%)

  Segment
   Earnings
   from
   Operations
   Fuselage
    Systems     $59.3     $92.4      (35.8%)   $134.2     $181.5     (26.1%)
   Propulsion
    Systems     $23.2     $49.3      (52.9%)    $61.9      $93.8     (34.0%)
   Wing
    Systems    ($58.8)    $32.9     (278.7%)   ($39.3)     $65.4    (160.1%)
   All Other    ($2.4)    ($0.3)     700.0%     ($2.0)      $0.1  (2,100.0%)
                -----     -----      -----      -----       ----  --------
  Total
   Segment
   Operating
   Earnings     $21.3    $174.3      (87.8%)   $154.8     $340.8     (54.6%)

  Unallocated
   Corporate
   SG&A
   Expense     ($30.7)   ($38.0)     (19.2%)   ($66.2)    ($74.1)    (10.7%)
  Unallocated
   Research &
   Development
   Expense      ($1.0)    ($0.2)     400.0%     ($1.2)     ($0.4)    200.0%
                -----     -----      -----      -----      -----     -----
  Total
   Earnings
   from
   Operations  ($10.4)   $136.1     (107.6%)    $87.4     $266.3     (67.2%)

  Segment
   Operating
   Earnings
   as % of
   Revenues
   Fuselage
    Systems     11.0%     18.7%    (770) BPS    13.8%      18.4%   (460) BPS
   Propulsion
    Systems      8.3%     16.6%    (830) BPS    12.2%      16.4%   (420) BPS
   Wing
    Systems    (25.1%)    12.4%  (3,750) BPS    (8.6%)     12.4% (2,100) BPS

   All Other   (46.2%)    (4.1%) (4,210) BPS   (14.5%)      0.7% (1,520) BPS
               -----       ----   ----------   -----        ---   ----------
  Total
   Segment
   Operating
   Earnings
   as % of
   Revenues      2.0%     16.4%  (1,440) BPS     8.0%       16.2%  (820) BPS

  Total
   Operating
   Earnings
   as % of
   Revenues     (1.0%)    12.8%  (1,380) BPS     4.5%       12.7%  (820) BPS



                 Spirit Ship Set Deliveries
             (One Ship Set equals One Aircraft)

             2008 Spirit AeroSystems Deliveries

                 1st Qtr 2nd Qtr  3rd Qtr 4th Qtr Total 2008
                 ------- -------  ------- ------- ----------
          B737      93      95       87      42        317
          B747       4       7        4       1         16
          B767       3       3        3       1         10
          B777      20      22       18       8         68
          B787       1       1        1       0          3
                   ---     ---      ---     ---        ---
         Total     121     128      113      52        414

   A320 Family      95      95       90      87        367
      A330/340      24      21       23      22         90
          A380       4       2        4       6         16
                   ---     ---      ---     ---        ---
         Total     123     118      117     115        473

  Hawker 850XP      15      24       24      28         91
                   ---     ---      ---     ---        ---

  Total Spirit     259     270      254     195        978
                   ===     ===      ===     ===        ===



             2009 Spirit AeroSystems Deliveries

                 1st Qtr 2nd Qtr YTD 2009
                 ------- ------- --------
          B737      74      96      170
          B747       3       1        4
          B767       3       3        6
          B777      21      21       42
          B787       2       2        4
                   ---     ---      ---
         Total     103     123      226

   A320 Family     105     101      206
      A330/340      26      23       49
          A380       0       2        2
                   ---     ---      ---
         Total     131     126      257

  Hawker 850XP      18      13       31
                   ---     ---      ---

  Total Spirit     252     262      514
                   ===     ===      ===



                       Spirit AeroSystems Holdings, Inc.
                Condensed Consolidated Statements of Operations
                                  (unaudited)

                         For the       For the       For the      For the
                      Three Months  Three Months   Six Months   Six Months
                          Ended         Ended         Ended        Ended
                      July 2, 2009  June 26, 2008 July 2, 2009 June 26, 2008
                      ------------  ------------- ------------ -------------
                              ($ in millions, except per share data)

  Net Revenues            $1,059.6       $1,062.1     $1,947.0     $2,098.5
    Operating costs
     and expenses:
    Cost of sales          1,021.6          874.5      1,758.9      1,731.8
    Selling, general and
     administrative           34.7           40.9         73.1         80.0
    Research and
     development              13.7           10.6         27.6         20.4
                              ----           ----         ----         ----
      Total Operating
       Costs and Expenses  1,070.0          926.0      1,859.6      1,832.2
      Operating Income
       (Loss)                (10.4)         136.1         87.4        266.3
  Interest expense
   and financing fee
   amortization               (9.8)         (10.5)       (18.9)       (19.6)
  Interest income              2.0            5.0          4.6         10.7
  Other income                 4.2            0.2          5.7          1.6
                               ---            ---          ---          ---
    Income (Loss) Before
     Income Taxes            (14.0)         130.8         78.8        259.0
  Income tax provision         5.8          (44.4)       (24.4)       (87.4)
                               ---          -----        -----        -----
    Income (Loss) Before
     Equity in Net Loss of
     Affiliate                (8.2)          86.4         54.4        171.6
  Equity in net loss of
   affiliate                  (0.1)             -            -            -
                              ----            ---          ---          ---
    Net Income (Loss)        $(8.3)         $86.4        $54.4       $171.6
                             =====          =====        =====       ======

  Earnings per share
  Basic                     $(0.06)         $0.63        $0.39        $1.25
  Shares                     138.0          137.0        137.9        136.9

  Diluted                   $(0.06)         $0.62        $0.39        $1.23
  Shares                     138.0          139.8        139.9        139.8



                      Spirit AeroSystems Holdings, Inc.
                    Condensed Consolidated Balance Sheets
                                 (unaudited)

                                             July 2, 2009  December 31, 2008
                                             ------------  -----------------
                                                     ($ in millions)
  Current assets
  Cash and cash equivalents                       $88.9             $216.5
  Accounts receivable, net                        263.8              149.3
  Current portion of long-term receivable          55.7              108.9
  Inventory, net                                2,093.1            1,882.0
  Other current assets                            116.6               76.6
                                                  -----               ----
      Total current assets                      2,618.1            2,433.3
  Property, plant and equipment, net            1,167.6            1,068.3
  Pension assets                                   59.7               60.1
  Other assets                                    215.6              198.6
                                                  -----              -----
      Total assets                             $4,061.0           $3,760.3
                                               ========           ========
  Current liabilities
  Accounts payable                               $434.3             $316.9
  Accrued expenses                                159.1              161.8
  Current portion of long-term debt                 6.3                7.1
  Advance payments, short-term                    206.2              138.9
  Deferred revenue, short-term                     64.3              110.5
  Other current  liabilities                       18.7                8.1
                                                   ----                ---
      Total current liabilities                   888.9              743.3
  Long-term debt                                  729.7              580.9
  Advance payments, long-term                     812.5              923.5
  Deferred revenue and other deferred credits      60.1               58.6
  Pension/OPEB obligation                          48.3               47.3
  Other liabilities                               147.1              109.2
  Shareholders' equity
  Preferred stock, par value $0.01,
   10,000,000 shares authorized, no shares
   issued and outstanding                             -                  -
  Common stock, Class A par value $0.01,
   200,000,000 shares authorized,
   104,686,385 and 103,209,466 issued and
   outstanding, respectively                        1.0                1.0
  Common stock, Class B par value $0.01,
   150,000,000 shares authorized,
   36,368,243 and 36,679,760 shares issued
   and outstanding, respectively                    0.4                0.4
  Additional paid-in capital                      945.6              939.7
  Minority Interest                                 0.5                0.5
  Accumulated other comprehensive income         (117.6)            (134.2)
  Retained earnings                               544.5              490.1
                                                  -----              -----
      Total shareholders' equity                1,374.4            1,297.5
                                                -------            -------
      Total liabilities and shareholders'
       equity                                  $4,061.0           $3,760.3
                                               ========           ========



                      Spirit AeroSystems Holdings, Inc.
               Condensed Consolidated Statements of Cash Flows
                                 (unaudited)

                                               For the Six     For the Six
                                               Months Ended    Months Ended
                                               July 2, 2009   June 26, 2008
                                              -------------  --------------
                                                     ($ in millions)
  Operating activities
  Net Income                                        $54.4          $171.6
  Adjustments to reconcile net income to net
   cash provided by operating activities
       Depreciation expense                          62.2            57.8
       Amortization expense                           4.7             4.6
       Accretion of long-term receivable             (4.5)           (9.3)
       Employee stock compensation expense            6.0             7.5
       Loss from the ineffectiveness of hedge
        contracts                                       -             0.6
       Gain from foreign currency transactions       (4.7)              -
       Loss on disposition of assets                    -            (0.4)
       Deferred  taxes                               (4.6)            0.5
       Pension and other post-retirement benefits,
        net                                           1.0           (14.3)
       Grant income                                  (0.5)              -
  Changes in assets and liabilities
       Accounts receivable                         (109.4)          (52.9)
       Inventory, net                              (203.0)         (310.2)
       Accounts payable and accrued liabilities     109.2            36.2
       Advance payments                             (43.7)          183.9
       Deferred revenue and other deferred credits  (45.7)            0.3
       Other                                        (37.4)            2.5
                                                    -----             ---
          Net cash provided by (used in)
           operating activities                    (216.0)           78.4
                                                   ------            ----
  Investing Activities
  Purchase of property, plant and equipment        (106.7)         (119.4)
  Long-term receivable                               57.7            56.5
  Other                                               0.7             1.5
                                                      ---             ---
          Net cash (used in) investing
           activities                               (48.3)          (61.4)
                                                    -----           -----
  Financing Activities
  Proceeds from revolving credit facility           250.0            75.0
  Payments on revolving credit facility            (100.0)          (75.0)
  Proceeds from issuance of debt                        -             9.4
  Proceeds from government grants                     0.6             1.4
  Principal payments of debt                         (3.9)           (7.9)
  Debt issuance and financing costs                 (10.2)           (6.8)
                                                    -----            ----
          Net cash provided by (used in)
           financing activities                     136.5            (3.9)
                                                    -----            ----
  Effect of exchange rate changes on cash
   and cash equivalents                               0.2             0.9
                                                      ---             ---
          Net increase (decrease) in cash and
           cash equivalents for the period         (127.6)           14.0
  Cash and cash equivalents, beginning of
   the period                                       216.5           133.4
                                                    -----           -----
  Cash and cash equivalents, end of the
   period                                           $88.9          $147.4
                                                    =====          ======


DATASOURCE: Spirit AeroSystems Holdings, Inc.



CONTACT:  Investor Relations, Phil Anderson, [phone], or Media,

Debbie Gann, [phone], both of Spirit AeroSystems Holdings, Inc.



Web Site:  http://www.spiritaero.com/ 

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