Spirit AeroSystems Plans To Go Public

Friday, June 30th 2006, 9:38 am
By: News On 6

WICHITA, Kan. (AP) _ Spirit AeroSystems Inc., the company formed after the sale of Boeing's commercial aircraft division in Wichita, announced Friday that it is planning to go public.

Spirit AeroSystems has filed a statement with the Securities and Exchange Commission saying it intends to make an initial public offering of its common stock, the company said.

Spirit formed last June when Canada-based Onex Corp. bought Boeing Wichita's commercial aircraft division for $1.5 billion.

Spirit, which builds sections of all Boeing commercial planes except the 717, is the world's largest aerostructures supplier.

Spirit employs nearly 9,000 people in Wichita; another 1,300 work at the Oklahoma plants in Tulsa and McAlester.

Onex bought Spirit as the airline industry was recovering from a downturn caused partly by the Sept. 11 terrorist attacks. The industry is now booming as airlines are upgrading their fleets with more-efficient airplanes.