Boeing buys Spirit Aero for $4.7 billion in stocks, Airbus takes over struggling European operations

From Investing.com: 2024-07-01 03:05:53

Boeing agreed to repurchase Spirit AeroSystems for $4.7 billion in stocks, while Airbus took on the supplier’s struggling European operations. The move ended Spirit’s independence after the Boeing 737 MAX crisis questioned fuselage manufacturing resilience. Spirit’s CEO highlighted the benefits of integrating both companies’ capabilities. Boeing plans to close the deal by mid-2025.

Airbus will manage key operations at four plants of Spirit in the US, UK, France, and Morocco. The deal came after coordinated talks between Boeing and Spirit. Airbus will receive $559 million in compensation from Spirit for taking over the loss-making activities related to making parts for A350 and A220 jets, while Spirit will receive a symbolic $1 for assets.



Read more at Investing.com: Spirit Aero to be broken up as Boeing agrees $4.7 billion stock deal By Reuters