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FACTBOX: How Boeing's strike hurt aero industry
(Reuters) - Boeing Co agreed to a tentative contract deal with its biggest union late on Monday, which looks likely to end a seven-week strike by its 27,000 assembly workers.
The strike, now in its fifty-third day, cut Boeing's profit and hurt a number of its suppliers and airline customers:
BOEING
In its third-quarter earnings report, Boeing said the first 25 days of the strike cut profit by 35 cents per share, or more than $250 million, as it was unable to deliver planes to customers.
If union members approve the contract on Saturday and return to work on Monday, November 3 -- extending the strike to 58 days -- the stoppage would cost about 81 cents per share, or almost $600 million overall, based on last quarter's results.
But the longer the strike goes on, the more difficult it would be for Boeing to get its operations back up to speed, which would mean an even greater hit to profit.
Boeing has said it will update its financial outlook once the strike is over. Wall Street analysts have abandoned their previous estimates and are now expecting sharply lower profit numbers.
SPIRIT AEROSYSTEMS
A former unit of Boeing, Spirit Aerosystems Holdings Inc is building the forward fuselage and nose on the 787 Dreamliner and makes the main fuselage on the 737.
Almost immediately after the strike began, it cut production, introduced a shortened work week and withdrew its financial guidance. Last year, the firm received 87 percent of its revenue from Boeing.
ALCOA
Aluminum company Alcoa Inc, which sells the bolts and metal sheets for Boeing's planes, reported a 47 percent slump in profit from its flat-rolled product business last quarter, partly because of the stoppage.
VOUGHT AIRCRAFT INDUSTRIES
Vought, which is making fuselage parts for the 787 Dreamliner, slowed production, cut overtime and said it was considering a shortened work week and partially shutting down plants.
FINMECCANICA
Italian aerospace giant Finmeccanica said its Alenia unit, which is making fuselage and tail parts for the 787, slowed production, but it expected no significant impact on financials.
ROCKWELL COLLINS
Cockpit electronics maker Rockwell Collins Inc said it would lose up to $40 million of revenue in a 45-day strike, as it delayed hiring and cut overtime.
CFM INTERNATIONAL
The joint venture between General Electric Co and France's Safran, which makes the engines for Boeing's best-selling 737, slowed production and could lose up to $100 million in revenue based on a four-week strike, according to a Safran spokesman.
STERLING FINANCIAL
Sterling Financial Corp, a Washington state bank, said the Boeing strike aggravated the wider credit crisis last quarter, slowing demand for home loans.
The following companies also said the Boeing strike slowed orders or would hurt financial results:
B/E Aerospace Inc (aircraft seats, interiors)
Triumph Group Inc (structural components)
Goodrich Corp (landing gear, brakes)
Allegheny Technologies Inc (titanium producer)
Carlisle Cos Inc (wires, cables)
Ametek Inc (electronics, sensors)
Precision Castparts Corp (fasteners)
Hexcel Corp (carbon composite supplier)
PPG Industries Inc (paint and coatings)
Universal Stainless & Alloy Products Inc (steel)
Brush Engineered Materials Inc (beryllium alloys)
Barnes Group Inc (engine nozzles)
GKN Plc (metal, composite structures)
The following airlines said their expansion plans have been disrupted:
Virgin Blue Holdings Ltd said it would delay the launch of its new long-haul service from Australia to the U.S. because it could not predict when it would receive its planes.
Air Canada and national rival WestJet Airlines Ltd both said their growth plans would be put back by delayed deliveries.
Ireland's low-cost carrier Ryanair said it may have to delay opening some new routes planned for next year.
Alaska Air Group Inc warned it would have to cut capacity more than it had planned due to delayed deliveries.
(Reporting by Bill Rigby, editing by Matthew Lewis)
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