Why Spirit Aerosystems Stock Is Climbing

Spirit Aerosystems Holdings, Inc. SPR shares are moving higher Wednesday following a Seattle Times report suggesting that Boeing Company BA improperly installed the fuselage panel that blew off a Alaska Airlines MAX 9 jet.

The Details:

According to the Seattle Times report, Boeing mechanics are responsible for improperly installing the fuselage panel that blew off an Alaska Airlines jet mid-flight earlier this month. The fuselage panel had been removed for repair and then reinstalled improperly on the final assembly line at Boeing’s Renton factory, according to the source.

Last week, an anonymous whistle-blower and Boeing-insider claiming to have access to the manufacturing and assembly records of the particular Boeing MAX 9 jet in question, provided a similar account.

"The reason the door blew off is stated in black and white in Boeing's own records," the whistleblower stated. "It is also very, very stupid and speaks volumes about the quality culture at certain portions of the business."

The National Transportation Safety Board investigation has not yet verified the information contained in the Seattle Times report. If found to be accurate, Boeing would be primarily at fault for the accident, rather than Spirit AeroSystems, which originally installed the panel into the 737 MAX 9.

Related News: What’s Going On With Spirit Airlines Stock?

SPR Price Action: According to Benzinga Pro, Spirit Aerosystems shares are up 6.1% at $28.33 at the time of publication.

Image: Joshua Woroniecki from Pixabay