Global aerostructures manufacturer Spirit AeroSystems has reported 2016 revenues of US$6.8 billion, up 2% year on year. Q4 revenues were US$1.6 billion, down 2% on the same period in 2015.

Operating income for Q4 2016 was US$161 million, compared to US$206 million in the same period of 2015, while operating income for the full year was US$725 million, compared to US$863 million in 2015, with the decrease primarily resulting from forward loss charges recognized during the second quarter of 2016.

‘2016 was a strong year for Spirit,’ sais president and CEO Tom Gentile. ‘We successfully negotiated a global settlement with Airbus on the A350, refinanced our debt after achieving an investment grade credit rating, returned US$650 million in capital to shareholders through share repurchases, initiated our first dividend of US$0.10 per share, made a seamless leadership transition, and laid the groundwork for a successful 2017.’

This story is reprinted from material from Spirit AeroSystems, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.