After first announcing plans in July for Airbus to acquire several of Spirit AeroSystems’ assets and facilities, a definitive agreement been the pair has been reached today. The break up of Spirit has prompted an unusual strategic cooperation between the world’s largest aircraft manufacturers, Airbus and Boeing, as they work to secure critical parts of the aerospace supply chain.
Spirit AeroSystems was established in 2005 and became one of the world’s largest manufacturers of aerostructures for commercial airplanes, defence platforms, and business/regional jets. Following its financial struggles, it will be bought back by Boeing at $4.7 billion, over 20 years after first spinning it off.
In February, Spirit reported losses of over half a billion dollars.
Under the terms of the agreement, Airbus will acquiring the production of wing components for A320 and A350 in Prestwick, Scotland and take ownership of the following assets:
- The site of Kinston, North Carolina, U.S. (A350 fuselage sections);
- The site of St. Nazaire, France (A350 fuselage sections);
- The site of Casablanca, Morocco (A321 and A220 components);
- The production of A220 pylons in Wichita, Kansas, U.S.;
- The production of A220 wings in Belfast, Northern Ireland; and
- The production of the A220 mid-fuselage in Belfast, Northern Ireland, unless Spirit AeroSystems identifies a suitable buyer for the part of the site where these activities are located.
As part of the deal, Spirit will pay $439 million to Airbus, while a memorandum of agreement will see Airbus provide Spirit with a $200 million loan that will be used to support Airbus programmes.
The official transfer of operations is scheduled for the third quarter of 2025.
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