Spirit AeroSystems, a global manufacturer of aerostructures for commercial airplanes, defense platforms, and business/regional jets recently announced it has entered into a definitive merger agreement with The Boeing Company. Additionally, Spirit has agreed to a subsequent agreement in which aerospace manufacturer Airbus acquires certain Spirit assets that serve Airbus programs.
President & CEO
The Boeing Group
Source: Linked In
The $8.3 billion Boeing transaction, expected to close mid-2025, will include all Boeing-related commercial, defense, aftermarket operations, and a commitment to ongoing partnership with the U.S. Department of Defense and Spirit defense operations. Spirit AeroSystems manufactures fuselage structures for the Boeing 737 MAX and 787 Dreamliner, among other aircraft programs.
President & CEO
Spirit AeroSystems
Source: U.S. Department of Defense
“This is an opportunity to bring back critical airplane manufacturing work on Boeing airplanes into our factories–where Boeing and Spirit world-class engineers and mechanics can work seamlessly together, focused on a common mission to build safe and quality airplanes for our customers,” said Dave Calhoun, president and CEO of Boeing, in a statement to employees on July 1, 2024.
The Airbus transaction will run concurrently with the closing of Spirit’s acquisition by Boeing and involves the potential acquisition of major activities related to Airbus, notably the production of A350 fuselage sections in Kinston, North Carolina, U.S., and St. Nazaire, France; of the A220’s wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; as well as of the A220 pylons in Wichita, Kansas, U.S.
“Bringing Spirit and Boeing together will enable greater integration of both companies’ manufacturing and engineering capabilities, including safety and quality systems,” said Patrick M. Shanahan, president and CEO of Spirit. “We are proud of the part we have played in Airbus’ programs and believe bringing these programs under Airbus ownership will enable greater integration and alignment.”
In taking over those operations, Airbus will pay a nominal $1.00 and will be compensated with $559 million from Spirit AeroSystems.
Related press releases are available in their original form here, here, and here.
