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Boeing provider Spirit is slipping as a pandemic causes ache past the 737 Max

A worker applies a seal to a cargo door frame as the lower part of a Boeing 737 fuselage is assembled at Spirit AeroSystems in Wichita, Kansas.

Daniel Acker | Bloomberg | Getty Images

Spirit Aerosystems' shares fell more than 3% on Tuesday after the main Boeing supplier suffered a loss and detailed problems due to the impact of the coronavirus pandemic on jetliner demand.

The Wichita, Kansas-based manufacturer of fuselages and other aircraft parts made a loss of $ 256 million in the second quarter after a profit of $ 168 million a year earlier. The company has been challenged after two fatal accidents since the 737 Max was grounded in March 2019. Spirit announced on Friday that 1,000 more jobs were cut due to lower production rates.

Boeing announced lower production targets not only for the 737 Max, but also for double-aisle aircraft used on international long-haul flights most severely affected by the pandemic last week.

Spirit Aerosystems announced Tuesday that it had $ 194 million in forward losses, mainly due to lower production of the Boeing 787 Dreamliner and the competing Airbus A350.

The financial losses of airlines around the world are increasing due to the corona virus, and some postpone or immediately cancel deliveries to reduce their costs.

Spirit stocks were up around 3% late in the morning, while the S&P 500 was up almost 0.2%.

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