News
Boeing seals deal to acquire Spirit AeroSystems
July 2nd 2024
Boeing has reached agreement to buy back aerospace supplier, Spirit AeroSystems, in an US$8.3 billion transaction that includes Airbus acquiring “certain commercial work packages that Spirit performs” for the Toulouse-headquartered company. Read More » Spirit also has proposed selling some operations in Malaysia, Northern Ireland and Scotland. “We believe this deal is in the best interests of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly,” Boeing CEO, Dave Calhoun, said. “By reintegrating Spirit, we can fully align our commercial production systems, including our safety and quality management systems and our workforce with the same priorities, incentives and outcomes centred on safety and quality.” Spirit AeroSystems CEO, Patrick Shanahan, said: “We are confident this transaction is in the best interests of Spirit and its shareholders and will benefit Spirit’s other stakeholders.” Airbus said: “With this agreement, Airbus aims to ensure stability of supply for its commercial aircraft programmes in a more sustainable way forward, both operationally and financially, for the various Airbus work packages Spirit AeroSystems is responsible for today.” The transaction is expected to be finalised by mid-2025, subject to regulatory and shareholder approvals.
