Spirit's Welcome you, second quarter XXXX Thank call. everyone. earnings and to good Ryan, morning,
of and the We continue grounding challenges aviation impact to MAX due the on the the see COVID-XX of global industry.
MAX of us XXXX. that MAX the and rate progress produce XX% the We has to issued the safely the from to a for XX, XX% produced certification the XX MAX directed and Boeing comments of flights was in XXXX our returning by service. we structure on the it of MAX XXX supplied represented this previous partner Spirit’s encouraging demonstrate the that grounded, units learn program. units about to revenue. still XXX down and On June year, of successful the historically the proud While it FAA subsequent toward
and and by world the we'll production sometime the According travel of challenge Airlines the several monitor been was navigate is At than grounded. XXXX major in safely back see deliveries to delivery to in rebounding with to drop are billion have to profits. Currently, continued that of to expect recovery COVID-XX with customer. will of followed better more in steep global Airbus. $XXX compared revenue domestic fell short-term, continue Boeing XXXX Once level view through rates have production our first, their last year. IATA, international given aviation the the in the lost impacting of We than analysts determine remains closely them significant by with billion global differing way both later $XX right passenger to May for travel. point, industry. we in work and likely a years has traffic schedule, There fleet and with one XX% airlines service than turbulence XX% the uncertainty. a and Boeing more a beyond. has economic most which than we on rates is or impact more more all in around position, In their April industry to take a and to programs to our XX,XXX recovery in airlines are installed MAX
robust a will aviation significant Boeing for return air in the traffic and is still growth. to industry retain Airbus long-term, and we However, are resilient both believe strong, backlog. Projections long-term the and each
on layoffs beginning energy by what preserving our pandemic the world, lives. of we felt we and of alters and we the Even our and reduced the dynamic reducing response, remain, these our the around of everyone's of impact the continues uncertainty to very be COVID-XX of nature liquidity. in aviation industries to commercial headcount on have are layers align many experiencing, While many completely of have Airbus levels the for production or XX% with Tulsa a Earlier from the financial and than have about employees. time X,XXX and year, we programs on a XXXX, from Since Boeing people and QX, lower negative period X,XXX of which by QX cost stopped impact focused more condition. XX% XX%. significant both Wichita during QX the deliveries In had announced XXXX that the of all year, decreased in our production fact
eliminated We positions. also more than XXX contractor
year compensation Airbus furloughs we June, initiated by March, those and and Boeing of When suspensions reduced full workers a implemented XXX week salaried hourly the our work retirement production put which employees. executive with associated four-day employees We've XX%. we and by through April addition, program, programs. than announced in also of a thousands remainder on the workforce reduced In voluntary more for
We additional to also layoffs permanent people Oklahoma decided These by additional the and July, an also people. X,XXX all In announced were we an in decisions. workforce X,XXX May. Kansas for reduce difficult
significantly addition, with cuts. the costs cut have in we production line In non-labor
manufacturers commercial to have as the for In the Texas facility MAX it XXXX July site We This XXX footprint parts was been as also capacity. and decision in assessing for customers. and global and mid-July, San we a our not lease. made renew the AIT, other defense programs, difficult from machine acquired Antonio well
our will next to using work or processes ensure work sites to the transition the few months, orderly to other Spirit’s Over an move established transfer team suppliers.
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transportation Virgin hour supply a was first at This and new per engineering, will of of tube. using Hyperloop's to certification, leverage miles assist mode through propulsion XXX speeds development chain, electric a in collaboration travel The Virgin up assembly capabilities fabrication to with low-pressure can agreement of that Spirit’s Hyperloop.
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diversify are and two we acquisitions have that grow to efforts other announced. the Our
acquisition Asco And on the the Bombardier October remain for the agreement both deals. We parties long is strategic closure both conditions of date engaged and see in stop The with X. continue Aerostructures value needed to Asco discussions of those the long-term acquisitions. in
date meet are long October the deal. XX. working that acquisition stop still is Bombardier of We the to The conditions on Commission agreement European for the
I'll ask to continue meet outstanding. which review. lead those you second to with quarter conditions We some remain XXXX Mark? of that, to precedent, financial a detailed work With Bombardier Mark through
