Spirit AeroSystems Advances New Contract with International Association of Machinists and Aerospace Workers; Members to Vote on Approval This Week

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Jun 27, 2023, 17:00 ET

WICHITA, Kan., June 27, 2023 /PRNewswire/ -- Spirit AeroSystems, Inc., a subsidiary of Spirit AeroSystems Holdings, Inc. [NYSE: SPR] ("Spirit AeroSystems"), today announced the contents of a new four-year contract proposal unanimously agreed to by the bargaining committee of the Local Lodge 839 of the International Association of Machinists and Aerospace Workers (IAM).

IAM union members will vote on approval on Thursday, June 29, at Hartman Arena in Park City, Kan.

The new proposed contract is a result of negotiations that began this past Saturday between the company and IAM officials, mediated by the Federal Mediation and Conciliation Service.

"We listened closely and worked hard in our talks over the last several days to further understand and address the priorities of our IAM-represented employees," said Tom Gentile, President and CEO of Spirit AeroSystems. "We believe this new offer is fair and competitive and recognizes the contributions of our employees covered under this proposed agreement, enabling our ability to meet the growing needs of our customers and deliver value for our investors."

Highlights of the new contract terms include:

Exact same core healthcare plan. Healthcare for employees will be 100 percent unchanged from the comprehensive coverage they currently have.
No mandatory weekend overtime.
Sign on bonus of $3,000 cash.
Increased Pay: Total wage increase of 9.5 percent in year one, guaranteed increase of 23.5 percent over the life of the contract, and annual bonuses and Cost of Living Allowance on top.

More details of the new contract offer can be found Spirit-IAM Wichita Contract Negotiations | Spirit AeroSystems.

Operations at Spirit's Wichita plant will continue to be suspended until the new contract is ratified.

About Spirit AeroSystems Inc.
Spirit AeroSystems is one of the world's largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company's core products include fuselages, integrated wings and wing components, pylons, and nacelles. We are leveraging decades of design and manufacturing expertise to be the most innovative and reliable supplier of military aerostructures, and specialty high-temperature materials, enabling warfighters to execute complex, critical missions. Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com.

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SOURCE Spirit AeroSystems