Airbus to acquire certain activities from Spirit AeroSystems, receiving $559 million compensation

From Investing.com: 2024-07-01 01:06:14

Airbus plans to buy certain loss-making activities of Spirit AeroSystems as part of a wider break-up with Boeing. The deal involves taking over plants supplying parts for A220 and A350 jets, with compensation of $559 million from Spirit. Airbus expects stability in supply chain and financial operations through the agreement.

Airbus will pay a nominal sum of $1 for the assets acquired from Spirit as part of the deal with Boeing. The company did not specify the compensation mechanism, which is tied to the financial condition of the activities being acquired. The agreement includes taking over operations in the US, Northern Ireland, France, and Morocco.

The acquisition of Spirit AeroSystems’ activities by Airbus will ensure stability in the supply chain for its commercial aircraft programs. The deal includes plants in multiple countries, with due diligence required before finalization. Airbus aims to secure its production and delivery forecasts, despite previous cuts announced.



Read more at Investing.com: Airbus says to get $559 million compensation under Spirit Aero deal By Reuters