What happened

Shares of airplane parts supplier Triumph Group (NYSE:TGI) are taking wing today, with the stock up 25% as of 1:05 p.m. EST.

The reason: Triumph Group made a deal to sell its "Global 7500 wing manufacturing operations," supplying wings for Bombardier's Global 7500 business jet, to Canada's Bombardier.

Airplane wing

Triumph Group trades a wing (production business) and its shares soar. Image source: Getty Images.

So what

The deal, announced today, won't bring Triumph Group any windfall of cash. To the contrary, Bombardier describes its payment obligations under the purchase as only "nominal." What the deal will do, says Triumph, is remove an obligation for the company that's been undermining Triumph's goal of "achieving predictable profitability," and permit the company to target improved "free cash flow and margins in [fiscal 2020] and beyond."

The transfer of responsibility for Global 7500 wing production should take place sometime in the current calendar quarter.

Now what

It would be nice to get some details on the financial aspects of this transaction: How much money has Triumph been losing producing wings for Bombardier? How much money will it save by offloading this business to its customer? What will that mean for Triumph's profits in the foreseeable future?

Unfortunately, Triumph Group says investors will have to wait for the company's upcoming earnings call to get any "additional details around the financial impact."

If you want to do that, mark your calendars: Triumph reports Q3 2019 results on Thursday, Feb. 7.

Check out the latest Triumph Group earnings call transcript.